Bill > SB491

This bill requires vendors who contract with the Employee Benefits Division to submit their data for verification through an independent audit process. Specifically, the bill amends existing law to mandate that vendor contracts include a requirement for data verification and establishes a new section of law detailing the audit process. Under the new provisions, vendors must agree to submit their data for independent verification, and the Director of the Employee Benefits Division will develop an audit process to check data accuracy. If a vendor is found to have provided inaccurate data through this audit, they will face financial penalties: $500 for a first violation and $1,000 for subsequent violations, as well as potential loss of licensure or authorization to operate in the state. The bill includes an emergency clause, emphasizing the importance of accurate data for assessing the fiscal impact of legislation and protecting state residents. The emergency provisions allow the bill to take effect immediately upon approval by the Governor, expiration of the Governor's review period, or override of a potential veto.

Government Affairs

https://arkleg.state.ar.us/Bills/Detail?id=sb491&ddBienniumSession=2025%2F2025R