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RESOLUTION NO. 12,939
A RESOLUTION IN SUPPORT OF HOUSE BILL 1060, AN ACT TO ESTABLISH
AN INCOME TAX CREDIT FOR THE REHABILITATION AND DEVELOPMENT OF
CENTRAL BUSINESS IMPROVEMENT DISTRICTS; AND FOR OTHER PURPOSES.
WHEREAS, House Bill 1060 by Representative Pennartz, et al, is entitled "The Arkansas Central
Business Improvement District Rehabilitation and Development Investment Tax Credit Act "; and
WHEREAS, this bill allows an investment tax credit against the state income tax, § 26 -51 -101 et
seq. for costs and expenses that are qualified rehabilitation or development expenditures of eligible
central business improvement district property; and
WHEREAS, the bill is designed to encourage rehabilitation and development of central business
improvement district properties in a time of economic hardship and recession and can benefit property
owners within the City of Little Rock.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
ROCK, ARKANSAS:
Section 1. The Board of Directors supports HB 1060 and urges the Legislature to pass the
legislation to encourage the rehabilitation and development of central business improvement districts.
Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause,
phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
originally a part of the resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
Section 4. This resolution will be in full force and effect from and after the date�of its adoption.
ADOPTED: February 17, 2009
ATTEST:
Nan y Wood, ity Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Att ne
APPROVED:
Mark Stodola, Mayor