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AR HR1003

Resolution

Official Source

Status

Passed

2/15/2018

Primary Sponsor

Lane Jean

Click for details

Origin

House of Representatives

91st General Assembly (2018 Fiscal)

AI Summary

  • Authorizes Senator Teague to introduce a bill on behalf of the Joint Budget Committee to amend the Revenue Stabilization Law and manage state funds and accounts
  • Amends Arkansas Code § 19-5-1240 to rename the "Small Business Loan Fund" to the "Minority and Women-Owned Business Loan Mobilization Revolving Fund"
  • Establishes the Minority and Women-Owned Business Loan Mobilization Revolving Fund using unexpended balances from the Small Business Loan Fund Account of the 82nd Session General Improvement Fund as of June 30, 2009
  • Directs the fund to promote development of minority and women-owned business enterprises, increase their ability to compete for state contracts, and sustain their economic growth
  • Becomes effective July 1, 2018

Legislative Description

Authorizing The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law And To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.

Last Action

READ AND ADOPTED.

2/15/2018

Committee Referrals

Budget2/12/2018

Full Bill Text

No bill text available