SB421

Senate Bill 421 authorizes the Arkansas Natural Resources Commission to issue up to $500 million in general obligation bonds to finance or refinance projects related to water, waste disposal, pollution abatement, drainage, flood control, irrigation, and wetlands/aquatic resources. The bill establishes the 'Arkansas Water, Waste Disposal, and Pollution Abatement Facilities Financing Act of 2025' to govern these expenditures. It imposes a limit on bond issuance of no more than $60 million per biennium without further legislative approval, with a specific sub-cap of $165 million total for irrigation projects. The process for issuing bonds requires the Commission to submit a plan to the Governor, who must consult with state financial officers and legislative committees before approving the issuance. The bonds may be used to provide loans or grants to local entities, including municipalities, conservation districts, and nonprofit corporations, for qualifying infrastructure and environmental projects. The bill also specifies that the issuance of these bonds must be submitted to the voters for approval at a general or special election.