Bill Summary – FastDemocracy

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                                               Act 142 of the Fiscal Session
 State of Arkansas                       As Engrossed:       H4/30/24
 94th General Assembly                            A Bill
 Fiscal Session, 2024                                                                     HOUSE BILL 1033
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 By: Joint Budget Committee
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                                      For An Act To Be Entitled
                 AN ACT TO MAKE AN APPROPRIATION FOR PERSONAL
                 SERVICES, OPERATING EXPENSES AND DATA PROCESSING
                 SYSTEM/SERVICES FOR THE OFFICE OF THE TREASURER OF
                 STATE FOR THE FISCAL YEAR ENDING JUNE 30, 2025; AND
                 FOR OTHER PURPOSES.
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                                                   Subtitle
                           AN ACT FOR THE OFFICE OF THE TREASURER OF
                           STATE APPROPRIATION FOR THE 2024-2025
                           FISCAL YEAR.
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 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
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         SECTION 1. REGULAR SALARIES - OPERATIONS.                     There is hereby established
 for the Office of the Treasurer of State for the 2024-2025 fiscal year, the
 following maximum number of regular employees.
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                                                                                      Maximum Annual
                                                                    Maximum               Salary Rate
  Item    Class                                                      No. of               Fiscal Year
   No.    Code       Title                                        Employees                     2024-2025
   (1)    Q243U       TREAS SENIOR INVESTMENT MANAGER                                 2         $157,126
   (2)    Q244U       TREAS CHIEF DEPUTY TREASURER                                    1          $140,448
   (3)    Q348U       TREAS CHIEF OF STAFF                                            1         $140,448
   (4)    Q098U       TREAS CHIEF COMPLIANCE OFFICER                                  1         $126,500
   (5)    Q352U       TREAS CHIEF TECHNOLOGY OFFICER                                  1          $126,500
   (6)    Q154U       TREAS CHIEF FINANCIAL OFFICER                                   1         $121,275
     *JAR034*                                                                         04-30-2024 14:18:38 JAR034
     As Engrossed:    H4/30/24                                                    HB1033
   (7)   Q366U   TREAS DIRECTOR OF INVESTMENT ACCOUNTING          1      $110,352
   (8)   Q236U   TREAS DIVISION DIRECTOR                         3       $106,480
   (9)   Q349U   TREAS DIR OF 529 & FINANCIAL EDUCATION           1      $101,640
   (10) Q350U    TREAS INVESTMENT MANAGER I                       1      $100,122
   (11) Q361U    TREAS CHIEF PUBLIC AFFAIRS OFFICER               1        $93,638
   (12) Q425U    TREAS DIR OF GOV AFFAIRS AND SPECIAL PROJECTS    1        $93,638
   (13) Q360U    TREAS INVESTMENT MANAGER II                      1        $91,575
   (14) Q351U    TREAS MANAGER V                                  2        $91,575
   (15) Q245U    TREAS MANAGER IV                                 1        $85,470
   (16) Q237U    TREAS MANAGER III                                1        $80,586
   (17) Q445U    TREAS EXECUTIVE ASSISTANT TO THE TREASURER       1        $80,586
   (18) Q367U    TREAS EXECUTIVE ASSISTANT                        1        $67,100
   (19) Q362U    TREAS ASSIST FOR 529 & FINANCIAL ED              1        $65,690
   (20) Q238U    TREAS MANAGER II                                 2        $62,637
   (21) Q170U    TREAS ASSISTANT IV                               1        $58,364
   (22) Q094U    TREAS ASSISTANT III                              3        $51,282
   (23) Q085U    TREAS ASSISTANT II                               4        $44,718
         MAX. NO. OF EMPLOYEES                                   33
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         SECTION 2. EXTRA HELP - OPERATIONS.   There is hereby authorized, for
 the Office of the Treasurer of State for the 2024-2025 fiscal year, the
 following maximum number of part-time or temporary employees, to be known as
 "Extra Help", payable from funds appropriated herein for such purposes:        five
 (5) temporary or part-time employees, when needed, at rates of pay not to
 exceed those provided in the Uniform Classification and Compensation Act, or
 its successor, or this act for the appropriate classification.
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         SECTION 3. APPROPRIATION - OPERATIONS.   There is hereby appropriated,
 to the Office of the Treasurer of State, to be payable from the State Central
 Services Fund, for personal services, operating expenses, data processing
 system/services, debt collection and Financial/Educational Programs including
 the Arkansas 529 College Savings Program, Arkansas ABLE Program and financial
 education of the Office of the Treasurer of State for the fiscal year ending
 June 30, 2025, the following:
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 ITEM                                                                 FISCAL YEAR
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     As Engrossed:   H4/30/24                                                      HB1033
  NO.                                                                    2024-2025
 (01)   REGULAR SALARIES                                                $2,775,610
 (02)   EXTRA HELP                                                          50,000
 (03)   PERSONAL SERVICES MATCHING                                         971,463
 (04)   MAINT. & GEN. OPERATION
        (A) OPER. EXPENSE                                               1,404,455
        (B) CONF. & TRAVEL                                                  35,000
        (C) PROF. FEES                                                      35,000
        (D) CAP. OUTLAY                                                     25,000
        (E) DATA PROC.                                                           0
 (05)   DATA PROCESSING SYST/SERVICES                                    1,700,000
 (06)   FINANCIAL/EDUCATIONAL PROGRAMS                                      75,000
 (07)   PREPAREDNESS, SECURITY & SAFETY                                    275,000
        TOTAL AMOUNT APPROPRIATED                                       $7,346,528
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        SECTION 4. SPECIAL LANGUAGE.     NOT TO BE INCORPORATED INTO THE ARKANSAS
 CODE NOR PUBLISHED SEPARATELY AS SPECIAL, LOCAL AND TEMPORARY LAW.
 TRANSFER PROVISION.     After receiving approval from the Chief Fiscal Officer
 of the State, and prior review by the Arkansas Legislative Council or Joint
 Budget Committee, the Treasurer of State is authorized to transfer
 appropriation from any line item authorized in Operations Appropriation of
 the Treasurer's Office in this Act to any other line item authorized in
 Operations Appropriation.
    The provisions of this section shall be in effect only from July 1, 2023
 2024 through June 30, 2024 2025.
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        SECTION 5.   SPECIAL LANGUAGE.       NOT TO BE INCORPORATED INTO THE ARKANSAS
 CODE NOR PUBLISHED SEPARATELY AS SPECIAL, LOCAL AND TEMPORARY LAW.         SALARIES.
 Employees of the Office of the Treasurer of State shall be eligible for cost-
 of-living increases on July 1, in an amount equal to that granted to all
 other state agency, board, commission, or institution of higher education
 employees on those dates.    Any additional adjustments in annual salary rates
 for employees, labor market adjustments, merit pay adjustments or employee
 retention, or recruitment requirements shall be made at the discretion of the
 Treasurer.   In addition, the Treasurer may implement a merit program to
 reward employees for exceptional service.         In order that exceptionally well-
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     As Engrossed:   H4/30/24                                                  HB1033
 qualified personnel may be recruited and retained, the Office of the
 Treasurer of State may exceed the maximum salary levels by no more than
 twenty percent (20%) for no more than one-fourth (1/4) of the positions
 authorized in the appropriation act after receiving approval from the
 Arkansas Legislative Council or Joint Budget Committee.   Salary payments in
 accordance with this section shall not be restricted to maximum amounts
 authorized by law.
     Determining the maximum number of employees and the maximum amount of
 appropriation and general revenue funding for a state agency each fiscal year
 is the prerogative of the General Assembly. This is usually accomplished by
 delineating such maximums in the appropriation act(s) for a state agency and
 the general revenue allocations authorized for each fund and fund account by
 amendment to the Revenue Stabilization law. Further, the General Assembly has
 determined that the Office of the Treasurer of State may operate more
 efficiently if some flexibility is provided to the Office of the Treasurer of
 State authorizing broad powers under this section. Therefore, it is both
 necessary and appropriate that the General Assembly maintain oversight by
 requiring prior approval of the Legislative Council or Joint Budget Committee
 as provided by this section. The requirement of approval by the Legislative
 Council or Joint Budget Committee is not a severable part of this section. If
 the requirement of approval by the Legislative Council or Joint Budget
 Committee is ruled unconstitutional by a court of competent jurisdiction,
 this entire section is void.
   The provisions of this section shall be in effect only from July 1, 2024
 through June 30, 2025.
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      SECTION 6. COMPLIANCE WITH OTHER LAWS.   Disbursement of funds
 authorized by this act shall be limited to the appropriation for such agency
 and funds made available by law for the support of such appropriations; and
 the restrictions of the State Procurement Law, the General Accounting and
 Budgetary Procedures Law, the Revenue Stabilization Law, the Regular Salary
 Procedures and Restrictions Act, or their successors, and other fiscal
 control laws of this State, where applicable, and regulations promulgated by
 the Department of Finance and Administration, as authorized by law, shall be
 strictly complied with in disbursement of said funds.
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     As Engrossed:   H4/30/24                                                   HB1033
      SECTION 7. LEGISLATIVE INTENT.     It is the intent of the General
 Assembly that any funds disbursed under the authority of the appropriations
 contained in this act shall be in compliance with the stated reasons for
 which this act was adopted, as evidenced by the Agency Requests, Executive
 Recommendations and Legislative Recommendations contained in the budget
 manuals prepared by the Department of Finance and Administration, letters, or
 summarized oral testimony in the official minutes of the Arkansas Legislative
 Council or Joint Budget Committee which relate to its passage and adoption.
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      SECTION 8. EMERGENCY CLAUSE.     It is found and determined by the General
 Assembly, that the Constitution of the State of Arkansas prohibits the
 appropriation of funds for more than a one (1) year period; that the
 effectiveness of this Act on July 1, 2024 is essential to the operation of
 the agency for which the appropriations in this Act are provided, and that in
 the event of an extension of the legislative session, the delay in the
 effective date of this Act beyond July 1, 2024 could work irreparable harm
 upon the proper administration and provision of essential governmental
 programs. Therefore, an emergency is hereby declared to exist and this Act
 being necessary for the immediate preservation of the public peace, health
 and safety shall be in full force and effect from and after July 1, 2024.
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                            /s/Joint Budget Committee
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                                APPROVED: 5/3/24
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