To Create The Talent Recruitment Grant Program; And To Provide Incentives For Individuals To Relocate To The State.
Impact
The Talent Recruitment Grant Program, if enacted, would allow municipalities and nonprofit organizations within Arkansas to apply for grants that fund their talent recruitment initiatives. This is intended to ease workforce shortages and enhance local economies, contributing to a more robust labor market. The financial support for the program is contingent on the availability of funds, with grants not exceeding $500,000 per applicant in a fiscal year.
Summary
House Bill 1802 aims to establish the Talent Recruitment Grant Program, designed to incentivize individuals currently residing outside of Arkansas to relocate to the state. The program targets remote workers with a minimum salary of $55,000 or those who have accepted full-time employment offers within the state. By providing financial assistance through grants, the bill seeks to stimulate Arkansas's economy by attracting skilled workers to local municipalities.
Contention
Despite its potential benefits, there may be concerns surrounding the allocation of state funds and how effectively these grants will stimulate job growth. The program requires recipients to demonstrate a commitment to meet individual relocation goals and contribute a minimum of 20% of the total program costs through local investments or in-kind donations. Although this could safeguard against misuse of funds, it raises questions about the program's overall sustainability and efficiency in achieving its intended objectives.
To Create The Learns Act; To Amend Various Provisions Of The Arkansas Code As They Relate To Early Childhood Through Grade Twelve Education In The State Of Arkansas; And To Declare An Emergency.
To Provide Additional Funding For The Arkansas Port, Intermodal, And Waterway Development Grant Program Fund; And To Create A Waterways Investment Income Tax Credit.
To Repeal The Arkansas River Navigation System Fund; To Provide Additional Funding For The Arkansas Port, Intermodal, And Waterway Development Grant Program Fund; And To Create A Waterways Investment Income Tax Credit.
To Enact The Preceptor Tax Incentive Program; And To Provide Incentives For Certain Medical Or Counseling Professionals To Train Students Who Are Learning To Become Medical Or Counseling Professionals.
To Create Income Tax Incentives For Employer-based Dependent Care Assistance; And To Create An Income Tax Credit For Employer Payments Related To Dependent Care Assistance.
To Create The Rural Veterinary Student Scholarship Program; To Create The Agri Scholarship Program To Be Administered By The Department Of Agriculture; And To Create The Agri Scholarship Program Fund Within The Department Of Agriculture.