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HB 1029

AN ACT FOR THE OFFICE OF THE TREASURER OF STATE - CITY-COUNTY TOURIST MEETING AND ENTERTAINMENT FACILITIES ASSISTANCE APPROPRIATION FOR THE 2026-2027 FISCAL YEAR.

2026 Fiscal Session

HB 1029 appropriates $887,908 for FY 2026-27 to the Treasurer to cover debt service and operating expenses for publicly owned city-county tourist facilities.

Notification that HB1029 is now Act 36
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Bill Summary · HB 1029

Summary of HB 1029 (2026F) — Arkansas

Title

AN ACT FOR THE OFFICE OF THE TREASURER OF STATE - CITY-COUNTY TOURIST MEETING AND ENTERTAINMENT FACILITIES ASSISTANCE APPROPRIATION FOR THE 2026-2027 FISCAL YEAR

Purpose and Intent

  • Provide an annual appropriation for debt service and operating expenses related to publicly owned City-County Tourist Meeting and Entertainment Facilities, as authorized by the City-County Tourist Meeting and Entertainment Facilities Assistance Law.
  • Ensure funding for the 2026-2027 fiscal year to support eligible facilities through the Office of the Treasurer of State.

Key Provisions

  • Appropriation and Source of Funds

    • Creates an appropriation to the Office of the Treasurer of State.
    • Funds are to be drawn from the City-County Tourist Facilities Aid Fund.
    • Purpose: to make payments for city-county tourist facilities as allowed by law.

  • Authorized Use

    • Payment of facility debt service and operating expenses for publicly owned eligible facilities under the City-County Tourist Meeting and Entertainment Facilities Assistance Law.

  • Fiscal Year Covered

    • July 1, 2026 through June 30, 2027 (FY 2027).

  • Budget Item Details

    • Item No. (01) — Facility Debt Service and Operating Expenses.
    • Amount for FY 2026-2027: $887,908 (listed as the appropriation amount for the fiscal year).

  • Legal and Fiscal Compliance

    • Disbursement limited to the appropriation and funds legally available.
    • Compliance with State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures, and other applicable fiscal control laws.
    • Regulations enforced by the Department of Finance and Administration.

  • Legislative Intent

    • Funds must be used in line with the reasons stated in budget manuals and related budget materials (Agency Requests, Executive Recommendations, and Legislative Recommendations) and other official documentation.

  • Emergency Clause

    • Declares an emergency to ensure the act takes effect on July 1, 2026.
    • Finds that delaying effectiveness could cause irreparable harm to the administration of essential governmental programs.
    • The act is effective immediately for the 2026-2027 appropriation period.

Beneficiaries and Affected Entities

  • Primary Beneficiary

    • Office of the Treasurer of State, Arkansas.

  • Facilities Eligible for Funding

    • Publicly owned City-County tourist meeting and entertainment facilities eligible under the City-County Tourist Meeting and Entertainment Facilities Assistance Law.

  • Impact on Stakeholders

    • Local governments that own qualifying facilities may benefit from support for debt service and operating costs.
    • Affects financial planning for the Treasurer’s Office and departments implementing the city-county facilities program.

Procedural and Timeline Aspects

  • Effective Date

    • Immediate upon the emergency clause activation (July 1, 2026).

  • Projected Budget Year Coverage

    • FY 2026-2027 (ending June 30, 2027).

  • Legislative Status

    • Passed the House and Senate with emergency clause adopted (April 2026), transmitted to the Governor for potential signature.

Summary in Plain Language

HB 1029 appropriates $887,908 for the 2026-2027 fiscal year to the Office of the Treasurer of State from the City-County Tourist Facilities Aid Fund. The money is dedicated to payments for debt service and operating expenses of publicly owned city-county tourist meeting and entertainment facilities, as allowed by Arkansas law. The bill includes standard compliance and procurement provisions, clarifies legislative intent, and contains an emergency clause to make the funding effective July 1, 2026, ensuring uninterrupted support for the facilities.

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

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