In the latest issue of The Arkansas Lawyer, QGT Managing Members J. Cliff McKinney II and Jeb H. Joyce examine Issue 3, a proposed constitutional amendment that would give Arkansas communities broader tools to finance and support economic development projects.
Their article, “Issue 3: Leveling the Playing Field,” explores how the amendment could create economic development districts and provide mechanisms such as tax increment financing, sales tax and revenue bond financing, and performance-based incentives. The authors also discuss the safeguards built into the proposal, including local approval, protection of existing tax revenues, public oversight, audits, and FOIA requirements.
Read Cliff and Jeb’s analysis of what Issue 3 could mean for Arkansas communities seeking to attract jobs, investment, housing, infrastructure, and long-term growth here.