Arkansas Senate Bill SR2

Arkansas 2024 Regular Session

• Introduced: 4/3/24
• Passed: 4/11/24

Caption

To Authorize The Introduction Of A Nonappropriation Bill Amending The Revenue Stabilization Law, Creating Funds, Repealing Funds, And Making Transfers To And From Funds And Fund Accounts.

Impact

If enacted, SR2 will have significant implications on the state's financial management by establishing specific funds, such as the Arkansas River Navigation System Fund and modifications to the Public Health Fund. This restructuring intends to enhance the state's ability to manage its revenue and allocate resources more effectively, particularly to improve regional health services and waterway transportation infrastructure. The bill is designed to support essential services that benefit the citizens of Arkansas and address urgent funding needs.

Summary

Senate Resolution 2 (SR2) is a non-appropriation bill introduced in the Arkansas 94th General Assembly, aimed at amending the Revenue Stabilization Law. The bill provides for the creation of new funds, the repeal of existing funds, and allows for the transfer of funds between various accounts. The primary purpose of SR2 is to ensure the state has an effective fiscal strategy that meets its obligations and operational needs at the start of the fiscal year 2024.

Contention

Debates surrounding SR2 primarily focus on the transparency and accountability of how funds will be managed and utilized. Supporters argue that the restructuring is necessary for efficient fiscal management and to address pressing state needs like health and transportation that require immediate funding. Critics, however, may express concerns over the potential for misallocation of resources or insufficient scrutiny of new and repealed funds, emphasizing the importance of clear reporting mechanisms to ensure that public dollars are spent appropriately.