The bill amends existing Arkansas law to establish a framework for the development and presentation of fiscal impact statements for statewide initiative and referendum measures, as well as legislatively referred constitutional amendments. Key provisions include the requirement for the Secretary of State to provide a certified copy of the ballot title and popular name to election commissioners at least eighteen days before an election, along with any fiscal impact statements prepared by the Department of Finance and Administration. Additionally, if a fiscal impact statement is prepared, it must be included on the ballot.

The bill introduces new sections that outline the process for determining the financial impact of proposed measures, including the responsibilities of the Attorney General and the Department of Finance and Administration. It specifies the content and length of the fiscal impact statements, which should not exceed one hundred words plus additional words for each revenue source affected. The bill also mandates that if the fiscal impact statement exceeds two hundred words, a shorter version must be prepared for inclusion on the ballot. Furthermore, it ensures that sponsors of proposed measures are not charged for the preparation of these statements and establishes a timeline for submission and review of the necessary information.

Statutes affected:
Old version HB1637 V2 - 3-11-2025 10:08 AM: 7-9-114, 03-11-2025, 7-9-115, 7-9-128, 7-9-206, 7-9-117
Old version HB1637 V3 - 3-17-2025 11:31 AM: 7-9-115, 7-9-128, 03-17-2025, 7-9-206, 7-9-117
Old version HB1637 Original - 3-3-2025 09:33 AM: 7-9-114, 7-9-115, 7-9-128, 7-9-206, 7-9-117
HB 1637: 7-9-114, 7-9-115, 7-9-128, 7-9-206, 7-9-117
Act 457: 7-9-115, 7-9-128, 03-17-2025, 7-9-206, 7-9-117