AEDC Proposes Extending Expenditure Deadlines for Ready for Business Grants

Arkansas Ready for Business Grant recipients should have more time for qualifying expenses under an extension of deadlines in a proposed rulemaking making permanent an emergency rule from December, 2020. The rule would extend the deadline for grant recipients for incurring expenses to September 30, 2021 and to October 31, 2021 for submission of expenses. 

Appropriations from the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act fund the Ready for Business Grant Program. The original terms and conditions of the program dictate that eligible expenses be incurred by December 30, 2020.

Congress amended the CARES Act to extend the deadline for use of CARES Act funds. The Arkansas Economic Development Commission's (AEDC’s) proposed rule would extend the deadline for expenses to be incurred from December 20, 2020 to September 30, 2021 and the deadline for submitting receipts from January 31, 2021 to October 31, 2021.

Our older post on the Arkansas Ready for Business grants can be found here

The proposed rule is available on AEDC’s website here. AEDC can be reached by phone at (501) 682-2460. Comments on the proposed rule may be submitted through April 9 to AEDC.Digital.Rules@Arkansas.gov.

AEDC will be holding a virtual public hearing considering public comment on the proposed rule via ZOOM on April 9, 2021 at 8:30AM.

 


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