HB1657

House Bill 1657 amends the Arkansas Code to prioritize the allocation of workforce development funding toward new businesses and those that have been in operation for fewer than five years. The bill mandates that the Arkansas Department of Commerce encourage that at least 5% of such workforce development funding be directed toward programs or organizations that support individuals starting new businesses or entities that serve businesses established within the last five years. The legislation applies to funding allocated by state workforce development boards. The provisions of this act are scheduled to take effect on January 1, 2025.