The bill aims to enhance the transparency and understanding of the fiscal implications of statewide initiative and referendum measures, as well as legislatively referred constitutional amendments in Arkansas. It amends existing laws to require the Secretary of State to provide a certified copy of the ballot title and popular name for each proposed measure to election commissioners at least eighteen days before an election. Additionally, if the Department of Finance and Administration has prepared a fiscal impact statement for a measure, it must be provided alongside the ballot title. The bill also mandates that if a fiscal impact statement is prepared, it must be included on the ballot, ensuring voters are informed of the financial consequences of the measures they are voting on.

Furthermore, the bill introduces a new section that outlines the process for determining the fiscal impact of proposed measures. The Attorney General is tasked with assessing whether a measure has a financial impact, and if so, the Department of Finance and Administration must create a concise fiscal impact statement detailing the estimated financial effects, including potential changes in taxes and public debt. The bill specifies that the fiscal impact statement should not exceed 100 words, with additional words allowed for each revenue source affected. It also establishes guidelines for the inclusion of these statements on ballots and ensures that sponsors of proposed measures are not charged for the preparation of these statements.

Statutes affected:
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
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
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