Bipartisan Efforts Deliver New Tech Programs, Acts for Arkansas

A wide range of research and tech-based economic development bills were approved by the Arkansas legislature, which ended its legislative session in mid-April. With proposals and support coming both from Republican Governor Huckabee and the heavily Democratic legislature, Arkansas is the latest state to demonstrate broad bipartisan support for investing in science and technology.



Bills addressed areas as varied as venture capital, life sciences research, creation of a chief information officer, and implementation of the state’s geographic information system. Highlights of the legislative session include:

• Act 1791 expands the availability of venture capital in the state through capital guarantees and tax credits to investor groups.
• Act 1584 provides tax credits against the state capital gains tax for qualified biotechnology and technology investments held at least five years.
• Act 913 makes permanent a pilot loan incentive program for small businesses through community lenders.
• In what the Governor calls the "centerpiece of the technology package," Act 1042 establishes the position of chief information officer for the state. The bill also creates a Chief Information Officer Council to assist the CIO. 
• Act 1685 calls for a study to determine the procedures for establishing the Arkansas Infrastructure Technology Fund. The fund would capture savings generated through technology initiatives and then fund statewide enterprise projects to enhance technological advancement. 
• Act 905 establishes standards and criteria for electronic contracts, electronic transactions and electronic signatures. Act 1237 makes electronic purchasing simpler for state agencies. 
• Acts 1249 and Act 1250 enable full implementation of the state's geographic information systems project. When the project is completed, the state will have a new economic development tool. Companies around the world will be able to search a database of Arkansas locations to find the sites that best suit their needs.

The General Assembly also passed legislation for the state's tobacco settlement monies. The plan includes a research component for UAMS, the University of Arkansas at Fayetteville and Arkansas State University at Jonesboro. The money invested in research will attract additional grants from the National Institutes of Health, the National Science Foundation and other sources.



Another component is a state School of Public Health at the University of Arkansas for Medical Sciences in Little Rock. The school will serve as a catalyst for changing the health awareness culture of the state and as a continuing education center for health care professionals across Arkansas, including distance learning through interactive video and Internet-based courses, seminars and workshops on selected topics.



Each of the acts can be viewed at: http://www.arkleg.state.ar.us/