HomeMy WebLinkAbout12938I RESOLUTION NO. 12,938
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3 A RESOLUTION IN SUPPORT OF SENATE BILL 9, AN ACT TO ESTABLISH AN
4 INCOME TAX CREDIT FOR THE REHABILITATION OF HISTORIC STRUCTURES
5 LOCATED IN ARKANSAS; AND FOR OTHER PURPOSES.
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7 WHEREAS, Senate Bill 9, by Senator Denny Altes, is entitled "The Arkansas Historic Structures
8 Rehabilitation Tax Credit Act; and
9 WHEREAS, this bill allows two kinds of tax credits: An "Arkansas historic tax credit" against the
10 income tax imposed by the Income Tax Act of 1929, Ark. Code Ann. S 26 -51 -101 et. Seq. or the
11 insurance premium tax levied under SS 26 -57- 601 -26 -57 -605; and
12 WHEREAS, the bill is designed to encourage rehabilitation of historic structures in a time of
13 economic hardship and recession and can benefit property owners within the City of Little Rock and
14 encourage the preservation of the City's historic structures.
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
16 ROCK, ARKANSAS:
17 Section 1. The Board of Directors supports SB 9 and urges the Legislature to pass the legislation to
18 encourage the rehabilitation of historic structures within our State.
19 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause,
20 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
21 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
22 in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
23 originally a part of the resolution.
24 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
25 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
26 Section 4. This resolution will be in full force and effect from and after the date of its adoption.
27 ADOPTED: February 17, 2009
28 ATTEST: APPROVED:
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31 Nan _ Wood, ity Clerk Mark Stodola, Mayor
32 APPROVED AS TO LEGAL FORM:
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35 Thomas M. Carpenter, City At rney