{"data":{"id":"us-ar/ark.-code-ann.-15-3-703","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-3-703","heading":"Definitions","body":"As used in this subchapter: (1) \"Eligible business\" means a for-profit business that: (A) Is registered as a business entity in good standing with the Secretary of State; and (B) Has its principal place of business in Arkansas; (2) \"Matching grant\" means a discretionary grant of up to fifty percent (50%) of the amount of a federal Small Business Innovation Research grant for each approved matching grant application; (3) \"Principal investigator/project manager\" means the primary individual designated by an eligible business to provide the scientific and technical direction to a project supported by a matching grant; and (4) \"Small Business Innovation Research Program\" means the federal program administered by the United States Small Business Administration according to regulations adopted pursuant to 15 U.S.C. § 638 , as it existed on October 1, 2016, which provides funds for Phase I and Phase II Small Business Innovation Research grants through participating federal agencies. Added by Act 2017, No. 166,§ 2, eff. 10/1/2017.\n\nAs used in this subchapter:\n\n(1) \"Eligible business\" means a for-profit business that: (A) Is registered as a business entity in good standing with the Secretary of State; and (B) Has its principal place of business in Arkansas;\n\n(A) Is registered as a business entity in good standing with the Secretary of State; and\n\n(B) Has its principal place of business in Arkansas;\n\n(2) \"Matching grant\" means a discretionary grant of up to fifty percent (50%) of the amount of a federal Small Business Innovation Research grant for each approved matching grant application;\n\n(3) \"Principal investigator/project manager\" means the primary individual designated by an eligible business to provide the scientific and technical direction to a project supported by a matching grant; and\n\n(4) \"Small Business Innovation Research Program\" means the federal program administered by the United States Small Business Administration according to regulations adopted pursuant to 15 U.S.C. § 638 , as it existed on October 1, 2016, which provides funds for Phase I and Phase II Small Business Innovation Research grants through participating federal agencies.","path":["AR Code","Title 15","Chapter 3","Subchapter 7"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:41Z","sha256":"701ebff183e7ad69c7d2f06fb67e3b93bc8d7a96a27ba74172b1668873e1df3b","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-3-702","next":"us-ar/ark.-code-ann.-15-3-704"},"notice":"GroundRules: Original legal text. Not legal advice."}