The bill proposes the repeal of the Small Business Revolving Loan Fund for Pollution Control and Prevention Technologies Act, effectively eliminating the associated Small Business Revolving Loan Fund. This repeal includes the removal of all provisions related to the establishment, purpose, definitions, eligible activities, applicants, loan terms, and administration of the fund as outlined in Arkansas Code Title 8, Chapter 5, Subchapter 8. The specific sections being repealed include the title, purpose, definitions, eligible activities, and terms of the revolving loan, as well as the administration of the program by the Division of Environmental Quality.

By repealing this act, the state will no longer have a dedicated fund to support small businesses in investing in pollution control and prevention technologies. The bill aims to streamline existing laws by removing outdated provisions that are no longer in effect, thereby simplifying the regulatory framework surrounding environmental funding for small businesses in Arkansas.