Legislation to Fund New Technology Heads to the Senate

Tuesday, Mar 24, 2009

(Courtesy of USAToday.com and the Associated Press)

Legislation creating a fund to offer incentives for the development of new technologies is headed to the Senate for a vote.

The Senate Transportation, Technology and Legislative Affairs Committee on Monday advanced the proposal.

Under the bill, the fund could be used by the Arkansas Economic Development Commission, the Science and Technology Authority and the Development Finance Authority to create, attract or retain businesses in Arkansas.

Sen. Shane Broadway of Bryant, the bill's sponsor, said he hoped to use $30 million from the state's surplus or from federal stimulus money to fund the incentives.