Arkansas House Bill HB1071

Arkansas 2023 Regular Session

• Introduced: 1/4/23
• Refer: 1/9/23
• Report Pass: 3/14/23
• Engrossed: 3/15/23
• Enrolled: 3/28/23
• Chaptered: 3/30/23
• Passed: 3/30/23

Caption

An Act For The Department Of Commerce - Arkansas Development Finance Authority Appropriation For The 2023-2024 Fiscal Year.

Impact

Should HB 1071 be enacted, it will authorize a total allocation of nearly $32 million for the specified fiscal year, impacting state laws related to funding for commerce and housing finance activities. The bill includes specific appropriations for positions within the Department aimed at improving the management of housing assistance programs, student loans, and public finance among other areas. The financial support provided by this bill is essential for maintaining services that benefit various sectors of the state’s economy.

Summary

House Bill 1071 focuses on making appropriations for the Arkansas Department of Commerce - Arkansas Development Finance Authority for the fiscal year ending in June 2024. The bill outlines various funding allocations, including provisions for regular salaries, operational expenses, and grants for programs such as the National Housing Trust Fund. This legislative measure is aimed at ensuring that the Department has the necessary financial resources to effectively manage and execute its functions.

Sentiment

The sentiment surrounding HB 1071 appears to be generally supportive among legislators, primarily because it addresses critical funding needs within the Department of Commerce and aims to provide operational stability for public assistance programs. The absence of opposition notes or concerns in the voting records points toward a consensus among lawmakers regarding the necessity of this funding.

Contention

While the bill has not faced significant contention in the legislative process, discussions may arise around the prudence of the funding levels and whether specific allocations align with broader economic development goals. As it primarily concerns appropriations, the discussions tend to center on budgetary priorities rather than substantial ideological opposition, thereby minimizing the chances of intense legislative debate.