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HB 1923

TO AMEND THE ARKANSAS TOURISM DEVELOPMENT ACT; AND TO AMEND THE LAW CONCERNING NATURAL STATE INITIATIVE OPPORTUNITY ZONES.

2025 Regular Session Introduced by Bart Hester and 1 co-sponsor

House Bill 1923 lowers investment thresholds for tourism projects in high-unemployment areas, boosting local economies and job creation in Arkansas through targeted development.

Notification that HB1923 is now Act 838
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Bill Summary · HB 1923

Summary of House Bill 1923 (Act 838)

Bill Number: HB 1923
Title: To Amend the Arkansas Tourism Development Act; and to Amend the Law Concerning Natural State Initiative Opportunity Zones
Status: Enacted as Act 838
Introduced: March 31, 2025
Authors: Representative Maddox, Senator Hester

Purpose and Intent

House Bill 1923 aims to enhance the Arkansas Tourism Development Act and modify the regulations surrounding Natural State Initiative Opportunity Zones. The bill seeks to stimulate tourism-related investments in designated areas, particularly those with high unemployment rates, thereby promoting economic development and job creation in Arkansas.

Key Provisions

Amendments to the Arkansas Tourism Development Act

  1. Definition of "Eligible Company":

    • The bill revises the criteria for what constitutes an "eligible company" under the Arkansas Tourism Development Act.
    • Investment Thresholds:
      • In high-unemployment counties, the minimum investment required for a tourism attraction project is set at $50,000.
      • In all other counties, the minimum investment is set at $150,000.

  2. Natural State Initiative Opportunity Zones:

    • The bill clarifies the geographic boundaries for these Opportunity Zones, stating they must be located within or no more than one-eighth (⅛) of a mile outside the boundaries of:
      • State parks
      • Cultural or historic sites
      • Cultural or educational centers

Impact

Who Will Be Affected?

  • Tourism Developers: The bill provides clearer guidelines and lower investment thresholds for companies looking to establish tourism attractions, particularly in economically distressed areas.
  • Local Economies: By encouraging investment in tourism, the bill aims to boost local economies, create jobs, and enhance the overall appeal of Arkansas as a travel destination.

Economic Development

  • The amendments are expected to attract more businesses to invest in tourism projects, which can lead to increased visitor traffic and spending in the state.

Legislative Timeline

  • March 31, 2025: Bill filed.
  • April 1, 2025: Read for the first time; rules suspended; referred to the Committee on Agriculture, Forestry & Economic Development.
  • April 3, 2025: Passed in the House and ordered transmitted to the Senate.
  • April 8, 2025: Received from the House and referred to the Senate committee.
  • April 14, 2025: Passed in the Senate and returned to the House.
  • April 17, 2025: Notification that HB 1923 is now Act 838.

Conclusion

House Bill 1923 represents a strategic effort by the Arkansas General Assembly to enhance tourism development through targeted investments in designated Opportunity Zones. By lowering financial barriers and specifying geographic criteria, the bill aims to foster economic growth and improve the state's tourism infrastructure.

Compiled from official sources — confirm details with the bill’s official record.

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