TO REPEAL THE REQUIREMENT THAT THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY SUBMIT A PROGRAM FACT SHEET TO THE LEGISLATIVE COUNCIL AND ARKANSAS LEGISLATIVE AUDIT FOR EACH NEW BOND ISSUE.

SB 384 repeals a requirement for the Arkansas Development Finance Authority (ADFA) to submit detailed program fact sheets to the Legislative Council and Arkansas Legislative Audit for each new bond issue. The bill removes the need for ADFA to provide specific details like fees, interest rates, and bond terms after issuing bonds. This change eliminates a reporting burden on ADFA, streamlining their bond issuance process. The bill does not alter bond issuance rules or funding, only the administrative reporting step. (Act 468, effective April 7, 2025)