AR SB674

Amends Arkansas Constitution Amendment 98 § 8(g)(2) to clarify financial responsibility requirements for cultivation facility license applications.

Requires cultivation facility applicants to demonstrate financial responsibility through one of two options: establishing a $1,000,000 escrow account in an Arkansas financial institution or the State Treasury, or maintaining $1,000,000 in liquid assets within Arkansas documented by a licensed certified public accountant.

Escrow account funds cannot be released to the cultivation facility without a statement from the commission authorizing release; financial institutions cannot return escrow funds without such authorization.

Defines "liquid asset" as unencumbered assets convertible to cash within 30 days and requires the accountant's statement to be dated within 30 calendar days before application.

Requires applicants to maintain the escrow account and liquid assets for 24 months after license issuance, with the commission authorized to reduce these amounts upon showing of good cause.