Arkansas House Bill HB1833

Arkansas 2023 Regular Session

• Introduced: 3/31/23
• Refer: 4/3/23
• Report Pass: 4/5/23
• Engrossed: 4/6/23
• Enrolled: 4/10/23
• Chaptered: 4/13/23
• Passed: 4/13/23

Caption

To Amend The Revenue Stabilization Law; And To Declare An Emergency.

Impact

The impact of HB 1833 is significant as it reshapes how state revenues are allocated to educational and departmental funds for the 2023-2024 fiscal year and beyond. It sets forth new maximum allocation amounts for different fund accounts, thereby directly affecting budgets for elementary, secondary, and higher education, among other state departments. This could lead to a more streamlined and responsive allocation process that is better aligned with current educational needs and economic conditions.

Summary

House Bill 1833 aims to amend the Revenue Stabilization Law in Arkansas, which governs the allocation of state revenues to various funds and accounts. The bill declares an emergency, indicating that its provisions are deemed urgent and necessary for the preservation of public welfare. Specifically, the bill repeals several obsolete provisions related to funding for educational institutions and technical schools, asserting that these changes need to be executed immediately in time for the upcoming fiscal year starting July 1, 2023.

Sentiment

General sentiment surrounding HB 1833 appears to be supportive among legislators, with a clear understanding of the need to update and refine state funding mechanisms to improve efficiency. During legislative discussions, the context of the bill suggests a broad consensus on its necessity for adapting to the contemporary educational landscape, although there may be concerns over the immediate nature of the emergency declaration and its implications for long-term planning and funding stability.

Contention

Notable points of contention center on the implications of repealing various fund accounts deemed obsolete. While proponents argue that such moves are necessary for fiscal responsiveness and efficiency, critics may raise concerns about the potential loss of targeted funding streams that directly support specific educational initiatives. The debate emphasizes a balance between necessary reform and the safeguarding of established educational programs that benefit various communities throughout Arkansas.