To Expand Eligibility For Water Development State Programs; To Amend The Water Authority Act; And To Amend The Uses Of The Construction Assistance Revolving Loan Fund.
Impact
If enacted, SB 420 will significantly revise the Water Authority Act by defining 'qualified corporations' more broadly. Nonprofit corporations involved in water services will be able to transition into public water authorities. This transition aims to streamline access to funding via rolling over to tax-exempt status, encouraging investment in infrastructure projects essential for the state's potable water and wastewater systems. By doing so, the legislation aims to enhance overall water service delivery to both the public and commercial stakeholders.
Summary
Senate Bill 420 seeks to expand eligibility for water development programs within the Arkansas Water Authority Act. The bill is a legislative effort to amend existing laws surrounding qualified corporations in the water sector, allowing more entities to obtain status as water authorities. This includes expanding the types of organizations that can convert to water authorities, thereby granting them access to tax-exempt capital markets, ultimately designed to lower water rates for consumers and businesses.
Sentiment
The sentiment surrounding SB 420 appears to be generally positive among those in the water utilities sector and policymakers focused on water infrastructure enhancement. Supporters argue that the bill will provide necessary financial frameworks that promote investment in essential water projects, thus benefiting communities. However, caution may be expressed by those wary of altering entrenched structures within public water management, emphasizing the need for oversight and accountability as new entities are created under the expanded definitions.
Contention
A notable point of contention could arise regarding the balance of state versus local responsibilities in water management. As the bill enables a wider array of entities to gain authority, there are concerns about maintaining the quality and reliability of water service across diverse communities. Moreover, the effects of converting these entities into water authorities may have implications for regulatory oversight, particularly concerning environmental standards and financial transparency. Critics argue that without adequate checks, the expansion of qualified corporations could lead to inconsistent service and accountability.
An Amendment To The Arkansas Constitution To Authorize A County, City, Town, Or Other Municipal Corporation To Fund And Administer A Water System Customer Assistance Program.
To Provide Additional Funding For The Arkansas Port, Intermodal, And Waterway Development Grant Program Fund; And To Create A Waterways Investment Income Tax Credit.
To Repeal The Arkansas River Navigation System Fund; To Provide Additional Funding For The Arkansas Port, Intermodal, And Waterway Development Grant Program Fund; And To Create A Waterways Investment Income Tax Credit.
To Amend The Arkansas Renewable Energy Development Act Of 2001; To Prevent Cost-shifting And Ensure Fairness To All Ratepayers; To Create The Customer Protections For Net-metering Customers Act; And To Declare An Emergency.
To Amend The Law Concerning The Projects Eligible For The Income Tax Credit For Surface Water Conversion Under The Water Resource Conservation And Development Incentives Act To Include Projects In Chicot County.
To Create The Voter Registration And Secure Voter Records Act Of 2023; To Amend Arkansas Constitution, Amendment 51; And To Amend The Duties Of The Secretary Of State.
To Provide Consumer Protection For In-state Internet Auction Sales And Estate Sales; To Amend The Law Concerning The Auctioneers Licensing Board; And To Amend The Auctioneer's Licensing Law.
Requires health plans that provide prescription benefits to cover at least one type of glucagon auto-injector, nasal spray, or formulation that does not require reconstitution to treat hypoglycemia. No copayment or deductible would be required.
Requires health plans that provide prescription benefits to cover at least one type of glucagon auto-injector, nasal spray, or formulation that does not require reconstitution to treat hypoglycemia. No copayment or deductible would be required.
Requires health plans that provide prescription benefits to cover at least one type of glucagon auto-injector, nasal spray, or formulation that does not require reconstitution to treat hypoglycemia. No copayment or deductible would be required.