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

House Bill 1923 amends the Arkansas Tourism Development Act and laws concerning Natural State Initiative Opportunity Zones. The bill reduces the minimum investment required for companies developing tourism attractions in these zones, setting it at $50,000 in high-unemployment counties and $150,000 in other counties. It also expands the permitted boundaries for Natural State Initiative Opportunity Zones, allowing them to be located up to one mile (previously one-eighth mile) outside a state park or cultural/historic site. These changes affect companies seeking to qualify for tourism development benefits and alter the geographic scope of these opportunity zones.