AR SB421

Authorizes the Arkansas Natural Resources Commission to issue up to $500 million in general obligation bonds for water, waste disposal, pollution control, drainage, irrigation, flood control, and wetlands projects, with a $165 million cap specifically for irrigation facilities

Limits bond issuance to $60 million per two-year period beginning July 1 of odd-numbered years unless the General Assembly approves a higher amount

Requires voter approval at the 2026 general election or a special election called by the Governor before bonds can be issued

Bonds mature no later than 35 years from issuance, are backed by the full faith and credit of Arkansas, and are exempt from state, county, and municipal taxes

Establishes the "Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2025 Bond Fund" in the State Treasury to manage debt service payments