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Bill

SB 382

TO REPEAL THE REQUIREMENT THAT THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY SUBMIT A REPORT CONCERNING THE CAPITAL ACCESS FUND.

2025 Regular Session Introduced by Fran Cavenaugh and 1 co-sponsor

Arkansas repeals mandatory reporting requirements for the state's Capital Access Fund program, reducing public oversight of small business and agricultural lending initiatives.

Notification that SB382 is now Act 466
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Bill Summary · SB 382

Legislative bill overview

SB 382 repeals a requirement for the Arkansas Development Finance Authority (ADFA) to submit regular reports on the Capital Access Fund. The Capital Access Fund is a state program designed to help small businesses and farmers access credit by providing loan loss reserves. This bill eliminates the mandatory reporting obligation for this fund.

Why is this important

Reporting requirements ensure public accountability and transparency for state programs and how taxpayer money is being used. Removing this requirement means the legislature and public will have less documented information about the Capital Access Fund's performance, lending activity, and effectiveness at achieving its stated goals of supporting small business and agricultural credit access.

Potential points of contention

  • Transparency concerns: Eliminating reports reduces legislative oversight and public visibility into how state development funds are performing and being managed
  • Program effectiveness unknown: Without regular reporting, it becomes harder to assess whether the Capital Access Fund is actually helping its intended beneficiaries or achieving policy objectives
  • Administrative burden vs. accountability trade-off: While the bill may reduce paperwork for ADFA, it trades efficiency for reduced accountability mechanisms

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

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