The Arkansas Legislature is moving forward with Senate Joint Resolution 15, a constitutional amendment that would give city and county governments broad new powers to provide incentives to private developers. The resolution, sponsored by Sen. Jonathan Dismang, passed the Senate with bipartisan support and is expected to pass the House before the end of the legislative session. If approved by voters in 2026, SJR15 would allow for the creation of economic development districts that could issue bonds for improvements paid for with property taxes, sales taxes, or other funds. The amendment would also permit loans and grants of public money for development projects and establish tax-exempt economic development districts.
This proposed amendment stands out from others referred to voters, as it has significant real-world implications compared to amendments on non-citizen voting and gun rights that have already been selected. While the specifics of how the proposal would be implemented are still unclear, lawmakers are moving forward with it over other alternatives presented during the session. A fiscal impact statement from the state Department of Finance and Administration has raised questions about the amendment’s details, but so far, no changes have been made to address these concerns.
Overall, if approved, SJR15 would grant both state and local governments the authority to provide tax breaks to private developers in the name of economic development. The amendment has divided lawmakers, with opposition coming from some Republicans while earning support from Democrats and other members of the GOP.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
