Section 15-3-502 - Legislative intent(a) The General Assembly finds that in October 2008 the Arkansas Task Force for the 21st Century Economy found and recommended that: (1) Education, research and development, entrepreneurship, risk capital, existing business innovation, and cyberinfrastructure are the most critical roles to Arkansas's success in the twenty-first century global economy;(2) Twenty-six (26) programs, initiatives, and constitutional issues be given priority consideration as being key to competitiveness and contributing to economic development in the twenty-first century global economy;(3) Resources should be dedicated to further study the structure and effectiveness of the state's economic development organizations because economic development is ever changing and the continuing review will provide information about twenty-first century demands on the organizations; and(4) Arkansas should create a dedicated revenue stream for funding twenty-first century business development.(b) The General Assembly further finds that Arkansas: (1) Needs an approach to an economy supported by knowledge-based jobs; and(2) Lacks a recurring and predictable funding formula for economic development.Amended by Act 2017, No. 167,§ 1, eff. 8/1/2017.