| 3 | 2 | | *JLL212* 03/05/2025 9:59:20 AM JLL212 |
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| 4 | 3 | | State of Arkansas 1 |
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| 5 | 4 | | 95th General Assembly A Bill 2 |
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| 6 | 5 | | Regular Session, 2025 SENATE BILL 383 3 |
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| 7 | 6 | | 4 |
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| 8 | 7 | | By: Senator Crowell 5 |
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| 9 | 8 | | By: Representative Cavenaugh 6 |
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| 10 | 9 | | 7 |
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| 11 | 10 | | For An Act To Be Entitled 8 |
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| 12 | 11 | | AN ACT TO REPEAL THE ANNUAL REPORT REQUIRED UNDER THE 9 |
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| 13 | 12 | | VENTURE CAPITAL INVESTMENT ACT OF 2001; AND FOR OTHER 10 |
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| 14 | 13 | | PURPOSES. 11 |
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| 15 | 14 | | 12 |
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| 16 | 15 | | 13 |
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| 17 | 16 | | Subtitle 14 |
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| 18 | 17 | | TO REPEAL THE ANNUAL REPORT REQUIRED 15 |
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| 19 | 18 | | UNDER THE VENTURE CAPITAL INVESTMENT ACT 16 |
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| 20 | 19 | | OF 2001. 17 |
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| 21 | 20 | | 18 |
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| 22 | 21 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 19 |
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| 23 | 22 | | 20 |
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| 24 | 23 | | SECTION 1. Arkansas Code ยง 15-5-1408 is repealed. 21 |
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| 25 | 24 | | 15-5-1408. Annual report. 22 |
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| 26 | 25 | | The designated investor group shall publish an annual report within six 23 |
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| 27 | 26 | | (6) months after the close of its fiscal year, which shall: 24 |
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| 28 | 27 | | (1) Include its annual audit of the activities conducted by the 25 |
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| 29 | 28 | | designated investor group; 26 |
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| 30 | 29 | | (2) Be presented in writing, and by testimony if requested, to 27 |
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| 31 | 30 | | the: 28 |
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| 32 | 31 | | (A) Governor; 29 |
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| 33 | 32 | | (B) House Committee on Agriculture, Forestry, and Economic 30 |
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| 34 | 33 | | Development and the Senate Committee on Agriculture, Forestry, and Economic 31 |
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| 35 | 34 | | Development; and 32 |
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| 36 | 35 | | (C) Arkansas Development Finance Authority; 33 |
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| 37 | 36 | | (3) Document and review the progress of the designated investor 34 |
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| 38 | 37 | | group in implementing its investment plan; and 35 |
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| 39 | 38 | | (4) List any use, redemption, or transfer of tax credits allowed 36 SB383 |
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| 40 | 39 | | |
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| 41 | 40 | | 2 03/05/2025 9:59:20 AM JLL212 |
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| 42 | 41 | | under this subchapter. 1 |
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| 43 | 42 | | 2 |
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| 44 | 43 | | 3 |
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