The proposed bill aims to promote workforce development funding specifically for new businesses and those that have been operational for less than five years in Arkansas. It introduces a new section to the Arkansas Code, which mandates that the Department of Commerce encourage that at least five percent (5%) of workforce development funding be allocated to support organizations or programs that assist individuals starting new businesses or provide services to businesses established within the last five years.

Additionally, the bill includes a temporary provision stating that the act will take effect on January 1, 2027. This initiative is designed to foster economic growth by ensuring that emerging businesses receive the necessary support and resources to thrive in the state.