AR HB1374

Director of the Arkansas Economic Development Commission must file an annual report by January 1 each year on state contracts awarded to businesses operating less than five years

Report must include the number and total dollar amount of contracts to newer businesses, with breakdowns by demographic segments and geographic areas throughout Arkansas

Report must show the percentage of total state contracts (by number and dollar amount) awarded to businesses in operation less than five years

Report must include recommendations for improving state contract access for newer Arkansas businesses, particularly those in underrepresented demographic segments and geographic areas

Report must be filed with the Governor, House Committee on Insurance and Commerce, and Senate Committee on Insurance and Commerce, with the first report due January 1, 2027