CONCERNING A REPORT BY THE DIRECTOR OF THE ARKANSAS ECONOMIC DEVELOPMENT COMMISSION CONCERNING CONTRACTS AWARDED TO BUSINESSES IN OPERATION LESS THAN FIVE YEARS.

HB 1374 requires Arkansas' Economic Development Commission to submit an annual report by January 1 each year. The report must detail state contracts awarded to newly established businesses (operating less than five years), including total numbers, dollar amounts, and demographic/ geographic breakdowns. It also mandates recommendations to improve access to state contracts for these businesses, particularly in underrepresented groups or regions. The report is submitted to the Governor and the House/Senate Commerce Committees.