Arkansas legislation · 95th General Assembly (2025 Regular)
Arkansas SB232: TO AMEND VARIOUS PROVISIONS OF THE ARKANSAS SCHOLARSHIP LOTTERY ACT; AND TO DECLARE AN EMERGENCY
Status: Chaptered, April 7, 2025
What the bill says
An act to be entitled an act to amend the arkansas scholarship lottery act; to amend the definition of "lottery proceeds"; to amend the definition of "net proceeds"; to amend the contents of the financial report; to provide that the costs of administering scholarship awards are expenses of the division of higher education that will continue to be reimbursed by the office of the arkansas lottery using lottery net proceeds; to eliminate the scholarship shortfall reserve trust account; to declare an emergency; and for other purposes…
From the introduced text:
An Act To Be Entitled AN ACT TO AMEND THE ARKANSAS SCHOLARSHIP LOTTERY ACT; TO AMEND THE DEFINITION OF "LOTTERY PROCEEDS"; TO AMEND THE DEFINITION OF "NET PROCEEDS"; TO AMEND THE CONTENTS OF THE FINANCIAL REPORT; TO PROVIDE THAT THE COSTS OF ADMINISTERING SCHOLARSHIP AWARDS ARE EXPENSES OF THE DIVISION OF HIGHER EDUCATION THAT WILL CONTINUE TO BE REIMBURSED BY THE OFFICE OF THE ARKANSAS LOTTERY USING LOTTERY NET PROCEEDS; TO ELIMINATE THE SCHOLARSHIP SHORTFALL RESERVE TRUST ACCOUNT; TO DECLARE AN EMERGENCY; AND FOR OTHER PURPOSES. Subtitle TO AMEND VARIOUS PROVISIONS OF THE ARKANSAS SCHOLARSHIP LOTTERY ACT; AND TO DECLARE AN EMERGENCY. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: SECTION 1. Arkansas Code § 6-85-303(a), concerning funding for the Arkansas Workforce Challenge Scholarship Program, is amended to read as follows: (a) For an academic year, the following shall be used to fund Arkansas Workforce Challenge Scholarships under this subchapter: (1) Excess funding returned to the Office of the Arkansas Lottery under § 6-85-212(d)(2)(B)(i) from the previous academic year; and (2) Net proceeds remaining from the previous academic year after *CRH049* 03-18-2025 14:03:49 CRH049 As Engrossed: S2/25/25 S3/11/25 S3/18/25 SB232 the office: (A) Transfers transfers the funds requested by the Division of Higher Education under § 23-115-801(c)(2); and (B) Deposits the amount necessary to maintain the …