The bill proposes the repeal of the requirement for the Arkansas Development Finance Authority to submit an annual financial report concerning the Capital Access Fund. Specifically, it seeks to eliminate Arkansas Code 15-5-1110, which mandates that the Authority prepare a report detailing the financial condition of the Capital Access Fund, as well as the results and economic impact of related programs for small businesses and credit reserves.

By removing this reporting obligation, the bill aims to streamline the Authority's responsibilities and reduce administrative burdens. The deleted provisions include the requirement to conform to generally accepted accounting principles and the submission of these reports to the Governor and the Legislative Council.