HB1027
To Create The Brighter Start Act Of 2025; And To Require The Treasurer Of State To Make A One-time Contribution To Each Existing And Future Arkansas Brighter Future Fund Plan Account.
Last Action (May 5, 2025): Died in House Committee at Sine Die adjournment.
Sponsors
AI-Generated Summary
House Bill 1027, titled the 'Brighter Start Act of 2025,' mandates that the Arkansas Treasurer of State issue a one-time $100 contribution to every existing and future Arkansas Brighter Future Fund plan account. These funds are to be transferred from the General Revenue Fund Account of the State Apportionment Fund. The Treasurer is responsible for administering these disbursements and verifying the eligibility of the accounts receiving the contributions. The act establishes a state-funded incentive to encourage the use of these investment accounts for designated beneficiaries.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are the current and future account holders of Arkansas Brighter Future Fund plans, as they will receive a direct $100 infusion of capital into their investment accounts. This incentivizes families and individuals to utilize the state's college or career savings programs.
Who Might Suffer?
The primary group negatively impacted is the Arkansas state government's general budget, as the bill requires a direct transfer of funds from the General Revenue Fund Account. This results in a reduction of available general revenue that could otherwise be allocated to other state programs, services, or fiscal reserves.
Get Notified
Receive an email when this bill's status changes.