§ 6-50-807. Financing generally — Exemption from taxation or assessment
(a) A workforce development center authority may request, receive, and be financed or supported by any revenue, grants, or funds allowed by law, including without limitation: (1) Funds provided by counties, cities, school districts, and vocational-technical schools; (2) Property or funds received by gift or donation; (3) Grants; (4) Proceeds from the sale or issuance […]
§ 6-50-808. Bonds — Sale
(a) A workforce development center authority may issue bonds for: (1) The cost of acquiring, constructing, equipping, maintaining, and operating one (1) or more workforce development centers operated by the workforce development center authority within its area of operation; (2) The cost of issuing the bonds; (3) Any outstanding indebtedness of the workforce development center […]
§ 6-50-809. Accounts — Report — Audit
(a) (1) The board of directors of a workforce development center authority: (A) Shall deposit the funds received by the workforce development center authority into bank accounts as determined by the board of directors; and (B) May withdraw funds from the bank accounts as determined by the board of directors. (2) (A) Each workforce development […]
§ 6-50-810. Dissolution
(a) If a workforce development center authority does not have any outstanding indebtedness, the board of directors of a workforce development center authority may adopt a resolution, which shall be entered in its minutes, declaring that the workforce development center authority shall be dissolved. (b) The resolution dissolving the workforce development center authority shall provide […]
§ 6-50-704. Rules for program
(a) The Arkansas Economic Development Commission shall promulgate rules under the Arkansas Administrative Procedure Act, § 25-15-201 et seq., for implementation of this subchapter by the commission. (b) Rules shall include, but not be limited to, the following: (1) Training shall be conducted for the purpose of meeting specific business goals and performance objectives; (2) […]
§ 6-50-705. Uses for grant funds or tax credits
(a) The Arkansas Existing Workforce Training Program shall provide matching funds or approve income tax credits to eligible companies or consortia at a rate to be determined by the governing council. (b) Matching funds may be provided to state-supported educational institutions to upgrade the skills of regular or adjunct faculty if approved by the governing […]
§ 6-50-801. Title
This subchapter shall be known and may be cited as the “Workforce Development Center Authority Act”.
§ 6-50-802. Purpose — Construction
(a) It is the purpose of this subchapter to: (1) Enhance the availability, accessibility, responsiveness, and quality of vocational and technical education in this state; (2) Assist cities and counties in upgrading the knowledge and skills of their existing workforce or potential new workforce; (3) Encourage and facilitate cooperation between cities, counties, school districts, and […]
§ 6-50-803. Definitions
As used in this subchapter: (1) “Area of operation” means, for a workforce development center authority, the area within the combined geographical boundaries of every school district, city, and county that is a sponsor of a workforce development center authority; (2) “Sponsor” means a school district, city, county, or vocational-technical school that is a sponsor […]
§ 6-50-804. Workforce development center authority — Creation — Public corporation — Immunity
(a) (1) Four (4) or more sponsors listed under subdivision (a)(2) of this section may create a workforce development center authority. (2) A workforce development center authority’s four (4) or more sponsors: (A) Shall include: (i) One (1) or more school districts; and (ii) One (1) or more vocational-technical schools; and (B) May include one […]