Arkansas Senate Bill SB145

Arkansas 2025 Regular Session

• Introduced: 1/30/25
• Refer: 1/30/25
• Failed: 5/5/25

Caption

To Amend Arkansas Law Concerning The Allocation Of Funds Resulting From Litigation Involving The Use Of Funds From The General Improvement Fund Or Its Successor Fund Or Fund Accounts.

Impact

One pivotal aspect of SB145 is that it stipulates clear guidelines for the distribution of settlement funds. This includes provisions for restitution to Arkansas consumers or agencies related to the case and outlines the use of funds for various purposes, including state agency operations and educational programs. The bill also emphasizes the Attorney General's responsibility to report quarterly on fund activities, enhancing oversight and accountability in the utilization of these financial resources.

Summary

Senate Bill 145 seeks to amend existing Arkansas law regarding the allocation of funds resulting from litigation, specifically those funds associated with the General Improvement Fund or its successor accounts. The bill mandates that when a judgment is entered or a settlement is agreed upon in a lawsuit involving the state, the Attorney General is required to create accounts to manage these funds effectively. The overall goal of the bill is to ensure a systematic approach to utilizing funds obtained through legal means for the state's benefit.

Contention

However, the bill does raise some points of contention regarding the transparency and potential misuse of settlement funds. Critics may argue that while the bill aims to clarify the process of fund distribution, it still leaves room for interpretation, particularly concerning how specific allocations are determined. The requirement for the Attorney General's office to generate reports is a step towards transparency, yet there might be concerns about the actual implementation and adherence to these reporting practices.

Notable_points

Furthermore, SB145 introduces provisions that specifically outline the use of litigation funds for crime reduction and prevention programs, as well as for community corrections services. This reflects a broader initiative to reallocate acquired funds towards enhancing public safety and supporting reintegrative services for offenders. Ultimately, the bill is positioned as a mechanism to improve state revenue management and ensure that resources gained through litigation are directly beneficial to Arkansas residents.