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 The bill aims to streamline the legal framework by removing outdated or unnecessary regulations concerning the funding of pollution control and prevention technologies for small businesses.

In addition to the repeal of the aforementioned act, the bill also seeks to eliminate Arkansas Code 19-5-1105, which further details the establishment and administration of the Small Business Revolving Loan Fund. By removing these legal provisions, the bill intends to discontinue the program that provided loans to small businesses for projects aimed at meeting environmental regulations and adopting pollution prevention technologies. Overall, the bill signifies a shift away from state-supported financial assistance for pollution control initiatives within the small business sector.