WeVote
Log In

Bill

Bill

HB 1028

AN ACT FOR THE DEPARTMENT OF COMMERCE - STATE BANK DEPARTMENT AND STATE SECURITIES DEPARTMENT APPROPRIATION FOR THE 2026-2027 FISCAL YEAR.

2026 Fiscal Session

Arkansas appropriates 2026-2027 fiscal year funding to Department of Commerce bank and securities regulators to license, supervise, and enforce financial oversight.

Notification that HB1028 is now Act 35
0
WeVote Research Nonpartisan
Bill Summary · HB 1028

Legislative bill overview

HB 1028 is an appropriations bill that allocates funding to Arkansas's Department of Commerce for the 2026-2027 fiscal year, specifically supporting the State Bank Department and State Securities Department. These departments oversee banking institutions, securities offerings, and related financial regulatory functions within the state.

Why is this important

These regulatory departments protect consumers and maintain the integrity of Arkansas's financial systems by licensing and supervising banks, credit unions, and securities brokers. Adequate funding ensures the state can effectively conduct examinations, investigations, and enforcement actions against financial misconduct and fraud.

Potential points of contention

  • Funding level: The bill's specific appropriation amount is not provided in this summary, so lawmakers may debate whether proposed funding levels are sufficient for effective regulation or wasteful spending
  • Regulatory scope: Stakeholders may disagree over whether these departments should expand oversight (consumer protection advocates) or streamline regulations (business-friendly groups)
  • Fee structure alignment: Questions may arise about whether appropriated funds should be supplemented by licensing fees charged to regulated entities, affecting business compliance costs

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.