(1) The Arkansas Small Business Innovation Research Matching Grant Program is created.
(2) The Division of Science and Technology of the Arkansas Economic Development Commission shall administer the program.
(3) The division shall: Create application forms to be submitted by eligible businesses seeking a matching grant from the program;
(4) Devise an application process that: Defines the eligibility criteria for a matching grant; and
(5) Establishes application submittal and review processes;
(6) Define a process by which matching grants may be awarded; and
(7) Execute standard legal grant agreements and other documentation governing the disbursement and use of matching grants.
History Acts 2017, No. 166, § 2.