Issue No. 3

HOUSE JOINT RESOLUTION 1007

TO AMEND AMENDMENT 82 OF THE CONSTITUTION OF

 ARKANSAS TO AUTHORIZE THE GENERAL ASSEMBLY TO

 ESTABLISH CRITERIA BEFORE AUTHORIZING THE

 ISSUANCE OF BONDS FOR PROSPECTIVE EMPLOYERS

 PLANNING AN ECONOMIC DEVELOPMENT PROJECT.

 

 

 Subtitle

 TO AMEND AMENDMENT 82 OF THE ARKANSAS

 CONSTITUTION TO AUTHORIZE THE GENERAL

 ASSEMBLY TO ESTABLISH CRITERIA BEFORE

 AUTHORIZING THE ISSUANCE OF BONDS FOR

 PROSPECTIVE EMPLOYERS PLANNING AN

 ECONOMIC DEVELOPMENT PROJECT.

 

 

 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE EIGHTY-SEVENTH GENERAL

 ASSEMBLY OF THE STATE OF ARKANSAS AND BY THE SENATE, A MAJORITY OF ALL

 MEMBERS ELECTED TO EACH HOUSE AGREEING THERETO:

 

 That the following is proposed as an amendment to the Constitution of

 the State of Arkansas, and upon being submitted to the electors of the state

 for approval or rejection at the next general election for Representatives

 and Senators, if a majority of the electors voting thereon at the election

 adopt the amendment, the amendment shall become a part of the Constitution of

 the State of Arkansas, to wit:

 

 SECTION 1. Amendment 82(d) of the Constitution of Arkansas is amended to read as follows:

 (d) In order for the The General Assembly to may authorize the

 issuance of bonds bearing the full faith and credit of the State of Arkansas,

 the prospective employer must be planning an economic development project

 that will invest more than five hundred million dollars ($500,000,000) in

 capital expenditures and plan on hiring over five hundred (500) new employees

 if the prospective employer planning an economic development project is

eligible under criteria established by law.