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Bill

SB 483

TO REPEAL CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT AND THE STATE SECURITIES DEPARTMENT; AND TO REVISE CERTAIN REPORTING REQUIREMENTS FOR THE STATE INSURANCE DEPARTMENT.

2025 Regular Session Introduced by Missy Irvin and 1 co-sponsor

Arkansas law eliminates and revises state insurance and securities department reporting requirements to reduce administrative mandates while potentially narrowing legislative oversight capacity.

Notification that SB483 is now Act 957
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WeVote Research Nonpartisan
Bill Summary · SB 483

Legislative bill overview

SB 483 eliminates certain reporting mandates that the Arkansas State Insurance Department and State Securities Department were previously required to fulfill, while simultaneously modifying other reporting obligations for the Insurance Department. The bill has been signed into law as Act 957.

Why is this important

Reporting requirements affect regulatory transparency and public accountability. Reducing these requirements can streamline government operations and reduce administrative burden, but may also limit the information available to lawmakers and the public for oversight purposes. The specific nature of repealed versus revised requirements determines whether this reduces unnecessary bureaucracy or diminishes transparency.

Potential points of contention

  • Lack of transparency detail: The bill title doesn't specify which reporting requirements were eliminated, making it unclear whether the public lost access to important regulatory data
  • Regulatory oversight implications: Reduced reporting to the legislature may weaken legislative oversight of insurance and securities regulators during a period of evolving financial markets
  • Asymmetrical treatment: The bill treats the Insurance and Securities departments differently (one has requirements repealed and revised, the other only repealed), which may reflect different policy philosophies but could create inconsistent regulatory transparency

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

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