AR
Arkansas Senate Bill SB445

Arkansas 2023 Regular Session

Arkansas Senate Bill SB445

Introduced
3/16/23  
Refer
3/16/23  
Report Pass
3/30/23  
Engrossed
4/3/23  

Caption

To Amend The Provisions Of Arkansas Constitution, Amendments 91 And 101, To Provide That Proceeds May Be Applied To Multilane Highway Improvements; And To Declare An Emergency.

Impact

By allowing a temporary sales and use tax, specifically set at 0.5%, the bill is designed to generate significant revenue to support general obligation bonds not exceeding $1.3 billion. This financing is targeted at accelerating ongoing highway projects and launching new initiatives that have yet to be scheduled. The bond issuance will leverage tax revenues to cover debt service, ultimately providing a vital boost to the state's transportation infrastructure funding mechanisms. If approved, this financial strategy could catalyze various local and statewide economic benefits.

Summary

Senate Bill 445 aims to amend the provisions of the Arkansas Constitution, specifically Amendments 91 and 101, to allow proceeds from certain tax collections to be applied to multilane highway improvements across the state. The bill identifies an urgent need for enhancing the state's highway system, especially in light of economic growth and the overall quality of life improvements that adequate infrastructure can provide. Through this amendment, the bill attempts to secure a funding source to facilitate the construction and improvements necessary for four-lane multilane highways, which are deemed essential for better connectivity within Arkansas.

Contention

There may be points of contention surrounding the bill, particularly related to how tax revenues are allocated and the potential for increased taxation on residents. Critics may voice concerns about the sustainability of funding derived from a temporary tax and how that affects local economies. Furthermore, the amendment of existing constitutional provisions can lead to discussions regarding legislative overreach and its implications for statewide governance, especially as it pertains to fiscal authority and responsibility.

Latest SB445 Activity

Companion Bills

No companion bills found.

Previously Filed As

AR SB79

To Amend The Arkansas Data Centers Act Of 2023; To Provide For The Regulation Of Digital Asset Mining Businesses; And To Declare An Emergency.

AR SB78

To Amend The Arkansas Data Centers Act Of 2023; To Prohibit Foreign-party-controlled Ownership Of A Digital Asset Mining Business; And To Declare An Emergency.

AR HR1020

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.

AR SR17

To Authorize The Introduction Of A Nonappropriation Bill To Amend The Arkansas Data Centers Acts Of 2023, To Regulate Digital Asset Mining Businesses And Businesses Utilizing A Blockchain Network, And To Declare An Emergency.

AR SB80

To Amend The Revenue Stabilization Law; To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts; And To Declare An Emergency.

AR HB1097

To Amend The Revenue Stabilization Law; To Create Funds, To Repeal Funds, And To Make Transfers To And From Funds And Fund Accounts; And To Declare An Emergency.

AR SB77

To Amend The Uniform Classification And Compensation Act; And To Declare An Emergency.

AR HCR1002

To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.

AR HR1004

To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.

AR SR23

To Recognize The Arkansas Committee Of The National Museum Of Women In The Arts For Thirty-five Years Of Creative Contributions To The Citizens Of Arkansas And Continuous Support Of Women Artists In Arkansas.

Similar Bills

LA SB263

Amends law to limit the prohibition on driving in the left lane to "non-urban" multilane highways. (8/15/10)

ND HB1421

Farm tractors, speed limitations, and minimum speed limits; and to provide a penalty.

WV SB441

Restricting driving in left lane of multi-lane highways in WV

LA SB354

Provides for increased signage and penalties for driving in left lane on the state highways. (8/1/24) (OR INCREASE SD EX See Note)

AR SJR23

A Constitutional Amendment To Provide That Proceeds Generated Under Arkansas Constitution, Amendment 91, May Be Applied To Multilane Highway Improvements.

ND HB1298

The amount of statutory fees, speed limitations on multilane highways, variable speed limits, alteration of maximum speed limits on state highways, speed zone reduction limitations, and city fines and penalties; to provide for a legislative management report; and to provide a penalty.

IA SF378

A bill for an act relating to the default speed limit for all vehicular traffic, and making penalties applicable.(Formerly SF 73.)

IA SF73

A bill for an act relating to the default speed limit for all vehicular traffic, and making penalties applicable.(See SF 378.)