AR HB1596

Adds definition of "fiscal impact statement" to Arkansas Scholarship Lottery Act as a realistic written statement describing the purpose of a proposed law and estimated financial costs to implement it

Requires bill authors to prepare fiscal impact statements for bills that amend the lottery chapter or impose new or increased costs to the Arkansas Lottery Commission, lottery, or state

Requires fiscal impact statements to be filed with committee chairs at least 3 days before committee action in regular or fiscal sessions, or at least 1 day before action in extraordinary sessions

Designates the Bureau of Legislative Research to develop fiscal impact statements within guidelines adopted by the Arkansas Lottery Commission Legislative Oversight Committee, with assistance from the Department of Higher Education or commission

Allows any legislator to object to final passage of bills lacking fiscal impact statements; objection can only be overridden by a two-thirds vote of a quorum, and if sustained, the bill is referred to the bureau for statement preparation within 5 days