Arkansas Senate Bill SR1

Arkansas 2024 Regular Session

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

Caption

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law, To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts.

Impact

The bill specifically targets the restructuring of financial resource management within the state by modifying the Arkansas Code regarding the Revenue Stabilization Law. Notably, the establishment of the Arkansas River Navigation System Fund seeks to improve and expand river transportation resources, which could potentially enhance trade and commerce in the region. Additional adjustments in the Public Health Fund signify a commitment to maintaining and improving public health services across Arkansas.

Summary

SR1 is a Senate Resolution from the 94th General Assembly of the State of Arkansas, which authorizes the introduction of a non-appropriation bill intended to amend the Revenue Stabilization Law. The primary objectives of this bill include the creation of new funds, the repeal of existing funds, and making necessary transfers to and from various funds and fund accounts. This legislative effort aims to facilitate financial management and ensure that state resources are optimally allocated to meet the needs of Arkansas citizens.

Contention

While the bill presents an organized approach to managing state funds, it is not without its challenges. The urgency indicated by the emergency clause suggests that there may be pressing concerns that necessitate these amendments. However, such abrupt changes can lead to scrutiny over transparency and accountability in how funds are created and allocated. Potential objections may arise from stakeholders who could argue that repealing certain funds without due diligence could threaten existing programs and services dependent on those revenues.