Arkansas § 15-3-503 - Advice and recommendations.

§ 15-3-503. Advice and recommendations.

The Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission shall advise the Governor, the General Assembly, the Arkansas Economic Development Commission, and other agencies responsible for programs enumerated in subsection (b) of this section. The board shall make recommendations regarding support and assistance for the accelerated growth of knowledge-based and high-technology jobs in the state through focused funding of the state's initiatives and programs. For funds in or allocated to the Arkansas Acceleration Fund, § 19-5-1243, the board shall make recommendations to the commission regarding the allocation or reallocation of funds and moneys for programs and initiatives authorized by the: Arkansas Research Alliance Act, § 15-3-301 et seq.; Innovate Arkansas Fund, § 19-5-1237; Venture Capital Investment Act of 2001, § 15-5-1401 et seq.; Supplemental science, technology, engineering, and math fund grants under § 6-17-2701 et seq.; Existing programs of the commission authorized under § 15-3-101 et seq., § 15-3-201 et seq., and § 15-3-401 et seq.; [Repealed.] Any other programs or activities aimed at the creation of knowledge-based and high-technology jobs; Arkansas Business and Technology Accelerator Act, § 15-3-601 et seq.; and Arkansas Small Business Innovation Research Matching Grant Program, § 15-3-701 et seq. History Acts 2011, No. 706, § 1; 2013, No. 1095, § 1; 2015 (1st Ex. Sess.), No. 7, § 88; 2015 (1st Ex. Sess.), No. 8, § 88; 2017, No. 165, § 1; 2017, No. 166, § 1; 2017, No. 167, § 2; 2019, No. 237, § 2; 2019, No. 925, § 1. Amendments. The 2013 amendment rewrote the section heading and (a); substituted “Arkansas Research Alliance” for “committee” in (b)(1) and (2); and added (b)(2)(G) and (b)(3). The 2015 amendment by Acts 2015 (1st Ex. Sess.), Nos. 7 and 8 substituted “Economic Development Commission” for “Science and Technology Authority” in (a); substituted “commission” for “authority” in the introductory language of (b)(2); and, in (b)(2)(E), substituted “commission” for “authority” and inserted “the Arkansas Research Alliance Act”. The 2017 amendment by No. 165 added (b)(2)(H). The 2017 amendment by No. 166 added (b)(2)(I). The 2017 amendment by No. 167 rewrote the section heading; in (a), substituted “Board of Directors of the Division of Science and Technology of the Arkansas Economic Development Commission” for “Arkansas Research Alliance” and substituted “advise” for “serve in an advisory capacity to”; in (b)(1), substituted “board” for “Arkansas Research Alliance”; inserted “or allocated to” and substituted “board” for “Arkansas Research Alliance” in (b)(2); deleted “the Arkansas Research Alliance Act, § 15-3-301 et seq.” following “15-3-201 et seq.” in (b)(2)(E); deleted (b)(3); and made stylistic changes. The 2019 amendment by No. 237 repealed (b)(2)(F). The 2019 amendment by No. 925 substituted “Venture Capital Investment Act of 2011, § 15-5-1401 et seq.” for “Arkansas Risk Capital Matching Fund Act of 2007, § 15-5-1601 et seq.” in (b)(2)(C). Effective Dates. Acts 2017, No. 165, § 3: Oct. 1, 2017. Acts 2017, No. 166, § 3: Oct. 1, 2017.