1. (a) There is created on the books of the Treasurer of State, the Auditor of State, and the Chief Fiscal Officer of the State a miscellaneous fund to be known as the “New Markets Performance Guarantee Fund” consisting of:

   1. (1) Fees paid under Arkansas Code § 15-4-3609;

   2. (2) Grants made by:

      1. (A) A person;
      2. (B) An organization; or
      3. (C) A federal or state government agency; and
   3. (3) Any other funds provided by law.
2. (b) The fund shall be used by the Arkansas Economic Development Commission to guarantee the QCDEs’ performance under the New Markets Jobs Act of 2013, Arkansas Code § 15-4-3601 et seq.

Codification Notes: "QCDE" means qualified community development entity.