HB1090
An Act For The Department Of Commerce - Arkansas Development Finance Authority Appropriation For The 2025-2026 Fiscal Year.
AI-Generated Summary
This bill proposes an appropriation for the Department of Commerce - Arkansas Development Finance Authority (ADFA) for the fiscal year ending June 30, 2026. It outlines the maximum number of regular and extra help employees for the ADFA, including positions such as Executive Director, Director of Student Loan Authority, and various finance and program officers. The bill details specific appropriation amounts for personal services, operating expenses, data processing, and grants and aid. Funding is allocated for general operations, the Student Loan Authority Division, a National Housing Trust Fund grant, and an Emergency Solutions Grant. The total amount appropriated for operations is over $25 million, with additional funds for the Student Loan Authority and federal housing programs. The bill mandates compliance with various state fiscal control laws and regulations. It also includes an emergency clause to ensure the act takes effect on July 1, 2025, deeming it necessary for the preservation of public peace, health, and safety.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries of this bill would be the Department of Commerce - Arkansas Development Finance Authority (ADFA) itself, as it receives the appropriated funds to cover its operational costs, including personnel and program expenses. Employees of the ADFA, through the allocation for regular salaries and extra help, would benefit from continued employment and compensation. Entities and individuals who are eligible for programs funded by the ADFA, such as those seeking business financing, student loan assistance, or housing support, would also indirectly benefit from the agency's continued operation and its ability to disburse funds for these purposes. Specifically, individuals and families experiencing homelessness would benefit from the appropriation for the Emergency Solutions Grant.
Who Might Suffer?
This bill is primarily an appropriations measure and does not directly impose new regulations or taxes that would negatively impact specific groups. However, any entities or individuals who rely on state appropriations that might be diverted or reduced due to the allocation of funds in this bill could be indirectly negatively impacted, though this is not explicitly detailed within the provided text. The appropriation process itself implies a prioritization of funding, meaning that other potential state initiatives or agencies might receive less funding as a result of these allocations to the ADFA. Ultimately, without further context on the source of these funds, it is difficult to identify direct negative impacts.