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AR SB571
Bill
Status
10/15/2021
Primary Sponsor
Dan Sullivan
Click for details
AI Summary
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Prohibits the Arkansas Development Finance Authority from approving any new commitments for new investments under the Venture Capital Investment Act of 2001
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Restricts the Authority's activities under the subchapter to honoring existing funding commitments on investments approved before the bill's effective date
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Allows the Authority to continue administering investments and funds that existed before the bill's effective date
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Adds a new section (15-5-1417) to Arkansas Code Title 15, Chapter 5, Subchapter 14 establishing these restrictions
Legislative Description
To Prohibit The Arkansas Development Finance Authority From Committing To New Investments Under The Venture Capital Investment Act Of 2001.
Last Action
Died in Senate Committee at Sine Die adjournment.
10/15/2021