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AR SB384
Bill
Status
4/7/2025
Primary Sponsor
Steve Crowell
Click for details
AI Summary
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Eliminates the requirement for the Arkansas Development Finance Authority (ADFA) to submit program fact sheets to the Legislative Council and Arkansas Legislative Audit after closing new bond issues
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Previously required fact sheets included fees, interest rates, average coupon life of securities, and gross spread for each new bond issue
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Retains the requirement that ADFA submit selection criteria for investment bankers, consultants, financial advisors, and attorneys to the Legislative Council for review
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Maintains the obligation for ADFA to disclose interest rate exchange agreements to the Governor and Legislative Council, but removes the reference linking it to the repealed reporting requirement
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Approved on April 3, 2025 as Act 468 of the Regular Session
Legislative Description
To Repeal The Requirement That The Arkansas Development Finance Authority Submit A Program Fact Sheet To The Legislative Council And Arkansas Legislative Audit For Each New Bond Issue.
Last Action
Notification that SB384 is now Act 468
4/7/2025