This bill mandates the creation of a new section in the Arkansas Code, specifically 15-4-221, which requires the Director of the Arkansas Economic Development Commission to submit an annual report by January 1 of each year. The report will detail the percentage and total dollar amount of economic development funding, including community development block grants, that supports organizations or programs aimed at individuals starting new businesses or those that have been established within the previous five years. The report must be submitted to the Governor and the House and Senate Committees on Insurance and Commerce.

Additionally, the bill specifies that the first annual report under this new section is due by January 1, 2027. This initiative aims to enhance transparency and accountability regarding economic development funding and its impact on new businesses in Arkansas.