§ 11-10-804. Federal Unemployment Trust Fund — Termination
(a) The provisions of this subchapter, to the extent that they relate to the federal Unemployment Trust Fund, shall be operative only so long as the federal Unemployment Trust Fund continues to exist and so long as the United States Secretary of the Treasury continues to maintain for this state a separate book account of […]
§ 11-10-1014. Liability
Officers, officials, employees, and members of the Board of Directors of the Arkansas Development Finance Authority are not liable personally for any reason arising from the issuance of bonds under this subchapter unless he or she acts with corrupt intent.
§ 11-10-901. Creation — Administrator — Authority
(a) (1) The Director of the Division of Workforce Services is assigned responsibility for the administration of the State New Hire Registry. (2) The director shall hire an administrator of the State New Hire Registry who shall serve at the pleasure of the director. (b) (1) The administrator shall compile a state registry of newly […]
§ 11-10-1015. Tax exemption
(a) All Arkansas Unemployment Trust Fund Bonds issued under this subchapter and interest on the bonds shall be exempt from all taxes of the State of Arkansas, including income, inheritance, and property taxes. (b) The bonds shall be eligible to secure deposits of all public funds and shall be legal for investment of municipal, county, […]
§ 11-10-902. Reporting requirements — Enforcement of child support obligations — Confidentiality — Definitions
(a) As used in this section: (1) “Administrator” means the administrator of the State New Hire Registry; (2) “Employee” means an individual who is an employee as defined in Chapter 24 of the Internal Revenue Code of 1986 but does not include an employee of a federal or state agency performing intelligence or counterintelligence operations […]
§ 11-10-1016. Bonds — Rights and liabilities — Enforcement
(a) (1) This subchapter shall constitute a contract between the State of Arkansas and the registered owners of all State of Arkansas Unemployment Trust Fund Bonds issued under this subchapter that shall never be impaired. (2) A violation of terms of this subchapter, whether under purported legislative authority or otherwise, shall be enjoined by the […]
§ 11-10-1001. Title
This subchapter shall be known and cited as the “Unemployment Trust Fund Financing Act of 2011”.
§ 11-10-1002. Legislative findings and intent
The General Assembly finds that: (1) With a recession or economic slowdown now underway, the state’s unemployment trust fund faces higher claims levels and longer benefit durations that accompany any economic downturn; (2) The Arkansas Unemployment Trust Fund: (A) Provides partial wage replacement to workers who find themselves out of work; (B) Provides economic stability […]
§ 11-10-1003. Definitions
As used in this subchapter: (1) “Authority” means the Arkansas Development Finance Authority; (2) “Bonds” means the “Arkansas Unemployment Trust Fund Bonds”, as authorized in this subchapter; (3) “Debt service” means all amounts required for the payment of principal, interest, and premium, if any, due with respect to the bonds in any fiscal year along […]
§ 11-10-1004. Authorization — Purposes
(a) The Arkansas Development Finance Authority is authorized, subject to the approval of the voters in a statewide election, to issue bonds to be known as the Arkansas Unemployment Trust Fund Bonds in an aggregate principal amount not to exceed five hundred million dollars ($500,000,000). (b) The purpose of the bond issuance shall be to: […]