An act TO ENCOURAGE THE AWARD OF WORKFORCE 10 DEVELOPMENT FUNDING TO NEW BUSINESSES AND BUSINESSES 11 THAT HAVE BEEN IN OPERATION FOR LESS THAN FIVE YEARS, the official text

Stricken language would be deleted from and underlined language would be added to present law.

1 State of Arkansas                              A Bill
2 95th General Assembly

3 Regular Session, 2025                                         HOUSE BILL 1373

4

5 By: Representatives Pilkington, J. Richardson

6 By: Senator K. Hammer

7

8                            For An Act To Be Entitled

9   AN ACT TO ENCOURAGE THE AWARD OF WORKFORCE

10  DEVELOPMENT FUNDING TO NEW BUSINESSES AND BUSINESSES

11  THAT HAVE BEEN IN OPERATION FOR LESS THAN FIVE YEARS;

12  AND FOR OTHER PURPOSES.

13

14

15                                               Subtitle

16                       TO ENCOURAGE THE AWARD OF WORKFORCE

17                       DEVELOPMENT FUNDING TO NEW BUSINESSES

18                       AND BUSINESSES THAT HAVE BEEN IN

19                       OPERATION FOR LESS THAN FIVE YEARS.

20

21 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

22

23  SECTION 1. Arkansas Code Title 25, Chapter 43, Subchapter 3, is

24 amended to add an additional section to read as follows:

25  25-43-306. Encouragement of award of workforce development funding to

26 individuals starting new businesses and businesses established within the

27 previous five (5) years.

28  The Department of Commerce shall encourage that at least five percent

29 (5%) of workforce development funding, including without limitation funding

30 allocated by workforce development boards across the state, go towards

31 supporting organizations or programs:

32  (1) For individuals starting new businesses in the state; or

33  (2) That provide services to businesses established within the

34 previous five (5) years whose principal place of business is in this state.

35

36  SECTION 2. DO NOT CODIFY. TEMPORARY LANGUAGE. This act is effective

    *MBM107*                                                    01/31/2025 2:59:19 PM MBM107
 1 on and after January 1, 2027.                                                                                   HB1373
 2                                                                                 01/31/2025 2:59:19 PM MBM107
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