AR
Arkansas House Bill HB1375

Arkansas 2025 Regular Session

Arkansas House Bill HB1375

Introduced
2/3/25  
Refer
2/3/25  

Caption

To Require A Report Concerning Funds Supporting Programs For Individuals Starting New Businesses Or Businesses Established Within The Previous Five Years.

Impact

Should HB1375 be enacted, it will amend Arkansas Code Title 25, Chapter 43, to include an additional section that requires an annual report. This report will not only outline the percentage of funding supporting new business initiatives but also provide the total funding amounts allocated. By January 1 each year, the report will be submitted to the Governor, as well as the House and Senate Committees on Insurance and Commerce. The first report will be due by January 1, 2027, thereby creating a systematic method for ongoing evaluation of state resources aimed at fostering new businesses.

Summary

House Bill 1375 seeks to enhance transparency regarding state support for new businesses by mandating an annual report. This report, required from the Secretary of the Department of Commerce, will detail the financial resources allocated for workforce development programs aimed at individuals starting new businesses or those within their first five years of operation. The intent of the bill is to provide lawmakers and the public with a clear understanding of how workforce development funds are being utilized and its impact on entrepreneurship within the state.

Contention

The discussions surrounding HB1375 may center on its implications for economic development and the efficiency of government spending. Proponents of the bill may argue that it is essential for accountability and to ensure that funds are being adequately directed towards fostering new businesses, thereby stimulating job creation and economic growth within the state. Critics, however, may question the effectiveness of such reporting measures, arguing that mere oversight does not guarantee successful outcomes for new enterprises. This tension highlights differing perspectives on the role of government in business development and the effectiveness of state funding in promoting entrepreneurship.

Companion Bills

No companion bills found.

Previously Filed As

AR HB1656

To Require A Report Concerning Funds Supporting Programs For Individuals Starting New Businesses Or Businesses Established Within The Previous Five Years.

AR HB1658

To Require A Report Concerning Economic Development Funding Supporting Organizations Or Programs For New Businesses Or Businesses Established Within The Previous Five Years.

AR HB1659

To Encourage The Award Of Economic Development Funding To New Businesses And Businesses Established Within The Previous Five Years.

AR HB1657

To Encourage The Award Of Workforce Development Funding To New Businesses And Businesses That Have Been In Operation For Less Than Five Years.

AR HB1660

Concerning A Report By The Director Of The Arkansas Economic Development Commission Concerning Contracts Awarded To Businesses In Operation Less Than Five Years.

AR HB1669

To Eliminate Barriers To Starting A New Business; To Amend Arkansas Income Tax Law; To Allow Certain New Businesses To Defer Paying Certain Income Taxes; And To Create The Arkansas Entrepreneur Extension Program.

AR HB1382

To Create The Reboot Pilot Program; And To Create An Income Tax Credit For Businesses That Hire Certain Former Offenders.

AR SB356

To Abolish Inactive State Entities; To Amend The Law Concerning The Reporting Of Boards And Commissions; And To Declare An Emergency.

AR HR1020

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.

AR SR17

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.

Similar Bills

No similar bills found.