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AR SB106
Bill
Status
2/2/2018
Primary Sponsor
Joint Budget Committee
Click for details
AI Summary
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Amends Arkansas Code § 19-5-1240 to rename the "Minority Business Loan Mobilization Revolving Fund" to the "Minority and Women-Owned Business Loan Mobilization Revolving Fund"
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Fund consists of unexpended balances from the Small Business Loan Fund Account of the 82nd Session General Improvement Fund as of June 30, 2009, plus any other authorized funds
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Reimbursements, loan repayments, and interest earned on the fund are treated as refunds to expenditure
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Fund shall be used to promote development of minority and women-owned business enterprises, increase their ability to compete for state contracts, and sustain their economic growth
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Effective date is July 1, 2018
Legislative Description
An Act 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
Sine Die adjournment
3/12/2018