Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 1 - Development Of Economic And Natural Resources Generally > Chapter 4 - Development Of Business And Industry Generally > Subchapter 18 - Major Industry Facilities Incentive Act > § 15-4-1810 - Suspension of local tax.

§ 15-4-1810 - Suspension of local tax.

15-4-1810. Suspension of local tax.

Any state agency or political subdivision entering into an agreement pursuant to this subchapter may provide for suspension, in whole or in part, of the collection of any tax voted for payment of its general obligation bonds issued in accordance with an agreement under this subchapter in any year when money derived from state assistance under this subchapter or from other sources is available for payment of all or a portion of the debt service on the bonds.