To Require A Report Concerning Funds Supporting Programs For Individuals Starting New Businesses Or Businesses Established Within The Previous Five Years.
Impact
The implications of this bill are significant as it seeks to provide a clearer picture of how funds are being utilized to support emerging businesses within the state. By requiring detailed reporting, the bill aims to ensure that resources are directed toward fostering entrepreneurship and job creation. The first report under this legislation is expected by January 1, 2025, marking a commitment to ongoing evaluation and support for business development in Arkansas.
Summary
House Bill 1656 is designed to enhance transparency regarding state funding for businesses, particularly focusing on those that are newly established or have been operational for less than five years. The bill mandates that the Secretary of the Department of Commerce prepare an annual report detailing the percentage of workforce development funds allocated to organizations or programs that support new business initiatives. This report is to be submitted to both the Governor and the appropriate committees in the House and Senate.
Contention
While the bill appears to be largely beneficial by promoting transparency and accountability, there may be points of contention regarding the effectiveness of the reporting requirements. Critics might argue about the practicality of measuring the impact of funding on new businesses or whether such requirements could create an additional bureaucratic burden for state agencies. However, supporters believe that such measures are essential for tracking the success of workforce development initiatives and aligning state spending with economic growth objectives.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Act Of 2023 And To Amend The Requirements For A Digital Asset Mining Business Or Business Using A Blockchain Network.
An Act For The Department Of Education - Division Of Elementary And Secondary Education - Public School Fund Appropriation For The 2024-2025 Fiscal Year.