SB7
An Act For The Department Of Commerce - State Insurance Department Appropriation For The 2026-2027 Fiscal Year.
Last Action (April 1, 2026): Re-referred to JOINT BUDGET COMMITTEE
Sponsors
AI-Generated Summary
Senate Bill 7 provides the annual budget and appropriation for the Arkansas Department of Commerce - State Insurance Department for the fiscal year ending June 30, 2027. The bill authorizes a maximum of 188 regular employees and 19 temporary or part-time staff members. It allocates funds across several divisions and programs, including general operations, funeral services, insurance fraud investigation, prepaid funeral benefits, and various employee claims funds. Specifically, the bill outlines funding for state, public school, county, and city employee claims, as well as the Arkansas Multi-Agency Insurance Trust Fund and the Public School Insurance Program. Additionally, it establishes appropriations for tax and fee refunds and various administrative support services. The legislation essentially serves as a standard fiscal appropriations act to ensure the department can fulfill its regulatory and service obligations for the 2027 fiscal year.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are the employees and administrative staff of the Arkansas Insurance Department who receive funding for salaries and operational support. Additionally, public sector employees—including state, school, county, and city workers—benefit from the funding allocated to cover insurance and injury claims. The public at large benefits from the continued operation of the department's regulatory, fraud investigation, and consumer information services, which help maintain market integrity and insurance stability within the state.
Who Might Suffer?
There are no groups or entities directly and negatively impacted in a punitive sense by this bill, as it is a routine appropriations measure necessary for the functioning of a state agency. However, because this bill directs specific limited public funds to the Department of Commerce, those funds are consequently unavailable for other potential state priorities or programs. Taxpayers generally bear the burden of funding these appropriations through the state tax system.
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