An act TO REQUIRE A REPORT CONCERNING ECONOMIC 10 DEVELOPMENT FUNDING SUPPORTING ORGANIZATIONS OR 11 PROGRAMS FOR INDIVIDUALS STARTING NEW BUSINESSES OR 12 BUSINESSES ESTABLISHED WITHIN THE PREVIOUS FIVE 13 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 1377

4

5 By: Representatives Pilkington, J. Richardson

6 By: Senator K. Hammer

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8                              For An Act To Be Entitled

9               AN ACT TO REQUIRE A REPORT CONCERNING ECONOMIC

10              DEVELOPMENT FUNDING SUPPORTING ORGANIZATIONS OR

11              PROGRAMS FOR INDIVIDUALS STARTING NEW BUSINESSES OR

12              BUSINESSES ESTABLISHED WITHIN THE PREVIOUS FIVE

13              YEARS; AND FOR OTHER PURPOSES.

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16                                               Subtitle

17                       TO REQUIRE A REPORT CONCERNING ECONOMIC

18                       DEVELOPMENT FUNDING SUPPORTING

19                       ORGANIZATIONS OR PROGRAMS FOR NEW

20                       BUSINESSES OR BUSINESSES ESTABLISHED

21                       WITHIN THE PREVIOUS FIVE YEARS.

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

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25     SECTION 1. Arkansas Code Title 15, Chapter 4, Subchapter 2, is amended

26 to add an additional section to read as follows:

27     15-4-221. Report concerning funds supporting organizations or programs

28 for new businesses or businesses established within the previous five years.

29     (a) By January 1 of each year, the Director of the Arkansas Economic

30 Development Commission shall file an annual report that includes without

31 limitation:

32              (1) The percentage of economic development funding, including

33 without limitation community development block grants, supporting

34 organizations or programs:

35                       (A) For individuals starting new businesses in this state;

36 or

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                                                                           HB1377

1                   (B) That provide services to businesses established within

2 the previous five (5) years whose principal place of business is in this

3 state; and

4             (2) The total dollar amount of economic development funding,

5 including without limitation community development block grants, supporting

6 organizations or programs:

7                   (A) For individuals starting new businesses in this state;

8 or

9                   (B) That provide services to businesses established within

10 the previous five (5) years and whose principal place of business is in this

11 state.

12         (b) The annual report under subsection (a) of this section shall be

13 filed with the:

14            (1) Governor;

15            (2) House Committee on Insurance and Commerce; and

16            (3) Senate Committee on Insurance and Commerce.

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18         SECTION 2. DO NOT CODIFY. TEMPORARY LANGUAGE. The first annual

19 report under � 15-4-221 is due by January 1, 2027.

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