This bill mandates the Secretary of the Department of Commerce to file an annual report by January 1 of each year regarding funds that support organizations or programs aimed at individuals starting new businesses or those established within the previous five years. The report will include the percentage of workforce development funding allocated by workforce development boards across the state for these purposes, as well as the total dollar amount of such funding. The report must be submitted to the Governor and the relevant House and Senate committees.

Additionally, the bill specifies that the first annual report under the new section 25-43-306 is due by January 1, 2027. This new requirement aims to enhance transparency and accountability regarding the allocation of workforce development resources to support new and recently established businesses in Arkansas.