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AR SB649
Bill
Status
4/7/2021
Primary Sponsor
Charles Beckham
Click for details
AI Summary
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Amends Arkansas Code § 23-115-801(a)(3) to establish minimum percentages of Arkansas Scholarship Lottery net proceeds dedicated to scholarships
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Requires net proceeds for scholarships to equal at least 20% for fiscal year ending June 30, 2022, increasing by 1% annually through 2026
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Sets minimum scholarship allocation at 25% of lottery proceeds for fiscal year ending June 30, 2027 and each subsequent fiscal year thereafter
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Progression schedule: 20% (2022), 21% (2023), 22% (2024), 23% (2025), 24% (2026), 25% (2027 and beyond)
Legislative Description
To Require That A Certain Percentage Of Lottery Proceeds Be Net Proceeds That Are Used For Scholarships; And To Require That The Percentage Of Net Proceeds For Scholarships Increase Year By Year.
Last Action
Sine Die adjournment
10/15/2021