Week 3 of the 2024 Fiscal Session

During the third week of the 2024 Fiscal Session, members received the proposed Revenue Stabilization Act (RSA) for the 2025 Fiscal Year.

The RSA, which categorizes and prioritizes state spending, includes a 1.76% increase in spending, with the largest increases allocated to Educational Freedom Accounts, the Public School Fund, and Arkansas State Police. Specifically, the Education Freedom Accounts would receive an additional $65.7 million, the public school fund would see a $38.2 million increase, and funding for Arkansas State Police would rise by $3.9 million.

This week, the House adopted an amendment to HB1012 which adds 50 corporal positions for Arkansas State Police and adds 2 positions at the State Crime Lab.

Additionally, the Joint Budget Committee advanced SB77. This bill proposes a temporary pay plan for state employees, including salary increases of up to 3%, setting a minimum salary of $32,405 per year, raising the maximum salary range for pay grades by 10%, and offering special compensation under specific circumstances.

Two bills addressing regulations of digital asset mining are now making their way to the House.

SB78 and SB79 have been assigned to the House City, County, and Local Affairs Committee. The committee will meet on Tuesday, April 30.

The House will reconvene again on Tuesday at 1 p.m.

The next week is likely to be the final week of the Fiscal Session.

We have posted a copy of the proposed RSA HERE. There you can also find links to all live streams and recorded legislative meetings.