Ark. Code Ann. § 15-4-2501
This is the official text of Ark. Code Ann. § 15-4-2501, part of Arkansas’s Code Ann — part of the compiled statutory law of Arkansas, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Definitions
Official statutory text
As used in this subchapter: (1) "Commission" means the Arkansas Economic Development Commission; (2) "Community lender" means any organization that is involved in making loans to small businesses within this state; (3) "Council" means the Arkansas Economic Development Council; (4) [Repealed.] (5) (A) "High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower. (B) However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division; (6) "Small business" means business enterprises with fewer than fifty (50) full-time employees and less than one million dollars ($1,000,000) in annual gross sales or receipts; and (7) "Small-business person" means an individual, firm, partnership, limited liability company, corporation, or any other business entity in any form that owns and operates a small business. Amended by Act 2019, No. 910,§ 390, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 389, eff. 7/1/2019. Acts 2001, No. 913, § 2; 2005, No. 892, § 1.
As used in this subchapter:
(1) "Commission" means the Arkansas Economic Development Commission;
(2) "Community lender" means any organization that is involved in making loans to small businesses within this state;
(3) "Council" means the Arkansas Economic Development Council;
(4) [Repealed.]
(5) (A) "High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower. (B) However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division;
(A) "High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower.
(B) However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division;
(6) "Small business" means business enterprises with fewer than fifty (50) full-time employees and less than one million dollars ($1,000,000) in annual gross sales or receipts; and
(7) "Small-business person" means an individual, firm, partnership, limited liability company, corporation, or any other business entity in any form that owns and operates a small business.
Amended by Act 2019, No. 910,§ 390, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 389, eff. 7/1/2019.
Acts 2001, No. 913, § 2; 2005, No. 892, § 1.
As used in this subchapter:
(1) "Commission" means the Arkansas Economic Development Commission;
(2) "Community lender" means any organization that is involved in making loans to small businesses within this state;
(3) "Council" means the Arkansas Economic Development Council;
(4) [Repealed.]
(5) (A) "High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower. (B) However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division;
(A) "High unemployment" means an unemployment rate equal to or greater than one hundred fifty percent (150%) of the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the Division of Workforce Services, when the state's annual average unemployment is six percent (6%) or lower.
(B) However, when the state's unemployment rate is above six percent (6%), "high unemployment" means unemployment equal to or greater than three percent (3%) above the state's average unemployment rate for the preceding calendar year as specified by statewide annual labor force statistics compiled by the division;
(6) "Small business" means business enterprises with fewer than fifty (50) full-time employees and less than one million dollars ($1,000,000) in annual gross sales or receipts; and
(7) "Small-business person" means an individual, firm, partnership, limited liability company, corporation, or any other business entity in any form that owns and operates a small business.
Amended by Act 2019, No. 910,§ 390, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 389, eff. 7/1/2019.
Acts 2001, No. 913, § 2; 2005, No. 892, § 1.
Status: in_force
Need a lawyer in Arkansas?
Find a Arkansas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.