Bill > SB383

This bill proposes to completely repeal Arkansas Code § 15-5-1408, which currently requires a designated investor group (likely related to venture capital investments) to publish an annual report within six months after the close of its fiscal year. Under the existing law, this annual report was required to include an annual audit of the group's activities, be presented in writing and potentially through testimony to the Governor, specific legislative committees (House and Senate Committees on Agriculture, Forestry, and Economic Development), and the Arkansas Development Finance Authority. The report also had to document the group's progress in implementing its investment plan and list any uses, redemptions, or transfers of tax credits. By repealing this section of the law, the bill would eliminate these mandatory reporting requirements, potentially reducing administrative burden on the designated investor group.

Agriculture and Natural Resources, Budget and Finance

https://arkleg.state.ar.us/Bills/Detail?id=sb383&ddBienniumSession=2025%2F2025R