The third week of the 94th General Assembly has come to a close. Since today was the deadline for Members to file a bill related to retirement or employee benefits, this week saw an uptick in proposed legislation. There have been more than 500 bills filed as of this morning. Many of these bills were technical corrections to Arkansas Code.
This week marked the 50thanniversary of the signing of the Vietnam ceasefire. In a very moving moment on the Senate floor, Senator Dave Wallace—a Vietnam Veteran—shared his story from service in the war. His address to the Senate can be found here at the 10:04 mark.
Governor Sanders’ bills related to education, criminal justice reform, or tax cuts have yet to be filed. Although we expect them to be filed soon.
Below are bills that Cove Street Consulting is tracking for you and your organization:
Review: New Bills that have been filed
HB1253
Sponsor: Rep. McAlindon, Sen. Bryant
Summary: Outlines how a fiduciary shall discharge duties with respect to a pension benefit plan, precluding nonpecuniary factors.
Detailed Analysis: This bill will prevent a person who manages benefit plans, renders investment advice for a fee, or has discretionary authority in the administration of the pension benefit plan from using ESG factors in making determinations.
Action: Referred to Joint Committee on Public Retirement & Social Security Programs.
HB1258
Sponsor: Rep. Lundstrum, Sen. Dees
Summary: Allows cities to issue permits for the use of sky lanterns.
Detailed Analysis: This bill would allow cities of the first or second class to issue and revoke permits for sky lanterns. The event must be open to the public. The city may revoke the permit if the fire department of the city determines that the use of sky lanterns would be dangerous due to weather or other conditions.
Action: Referred to House City, County and Local Affairs Committee.
HB1301
Sponsor: Rep. Clowney
Summary: Expands the exceptions from the prohibition against abortion to include fetal abnormality incompatible with life.
Detailed Analysis: This bill would allow abortions in the event fetal abnormality exists that is incapable of sustaining life.
Action: Referred to House Public Health Committee.
SB120
Sponsor: Sen. Love
Summary: Requires a cover or tarp that completely covers the cargo area when a vehicle’s cargo may be a hazard to other motorists.
Detailed Analysis: This bill requires sand, gravel, rock, cement trash, or any other products that may create a hazard to other motorists.
Action: Referred to Senate Transportation Committee.
SB151
Sponsor: Sen. Penzo, Rep. Lundstrum
Summary: Provides that the transfer of real property into a revocable living trust via warranty deed shall not impact the coverage of title insurance or property and casualty insurance if the beneficiary remains a beneficiary during the lifetime of the settlor. Detailed Analysis: This bill would allow the transfer of real property into a revocable living trust by warranty deed and provides that the insurance coverage for the revocable living trust shall be subject to the defenses available to the insurance company under the policy. Under this bill, if the settlor is a beneficiary of the trust at the time of the transfer of the real property via warranty deed, then the transfer cannot affect the eligibility of homestead property tax credit or accelerate a due-on-sale clause of the mortgage.
Action: Referred to Senate Insurance and Commerce Committee.
High Priority - Oppose
None
Support
None
Neutral - Monitor
HB1006
Sponsor: Rep. Aaron Pilkington
Summary: Requires an employer with more than 50 employees that covers abortions or travel expenses related to abortions for employees to provide12weeks of paid maternity leave to full-time employees who are employed in Arkansas.
Detailed Analysis: This bill was amended in committee to significantly narrow the scope of the bill. The bill has been narrowed from 16 weeks down to 12 weeks of paid maternity leave. This only applies to employers that have more than 50 employees. This law would only apply if the employee is on the employers health benefit plan and is the birth mother.
Action: Referred to House Public Health, Welfare, and Labor Committee.
HB1012
Sponsor: Rep. David Ray
Summary: Increases the standard deduction for state income taxes from $2,200 to $4,400.
Detailed Analysis: Increases the standard deduction for state income taxes from $2,200per taxpayer to $4,400 per taxpayer beginning on January 1, 2023.
Action: Referred to House Revenue & Taxation Committee.
HB1036
Sponsor: Rep. Aaron Pilkington
Summary: This bill reduces the required liability coverage limits for scooter-share operators.
Detailed Analysis: Reduces the commercial general liability insurance minimum from $1million to $250,000 for each occurrence and $5 million to $250,000 in aggregate.
Action: Moved to deferred list in House Public Transportation Committee.
HB1037
Sponsor: Rep. Aaron Pilkington
Summary: Requires the Insurance Commissioner to develop and administer a pilot program to support healthcare portability for small businesses.
Detailed Analysis: Repeals the requirement for legal insurance by Arkansas lawyers.
Action: Referred to House Insurance and Commerce Committee.
HB1049
Sponsor: Rep. Stephen Meeks
Summary: Creates the Fair Access to Financial Services Act and establishes that a violation is an unfair and deceptive trade practice.
Detailed Analysis: Prevents any financial institution or institution that provides insurance services from utilizing environmental, social, governance policies--as well as diversity, equity, and inclusive policies--in preventing or limiting an individual from entering a market or business segment. Violation of this law would be a violation of the Arkansas Deceptive Trade Practices Act.
Action: Referred to House Insurance and Commerce Committee.
HB1097
Sponsor: Rep. David Ray
Summary: This bill reduces the top marginal income tax rate from 4.9% to 4.5%.
Detailed Analysis: Decreases the 4.9% tax rate down to4.5% for those that make between $23,600 to and less than or equal to $84,500.
Action: Referred to House Revenue & Taxation Committee.
HB1111
Sponsor: Rep. Les Warren
Summary: This bill raises the applicable age to receive disbursement from police and fire department pensions.
Detailed Analysis: Raises the age from 72 to 73 for those turning 72 years old after December 31, 2022 and raises it to age 75 for those turning 74 after December 31, 2022.
Action: Referred to Joint Retirement Committee.
HB1174
Sponsor: Rep. Richard Womack, Sen. Matt McKee
Summary: Provides that all provisions of the Arkansas Criminal Code apply to a prosecution for the death of an unborn child that would apply to a prosecution for the death of any other person.
Detailed Analysis: This bill removes the provision of Arkansas law which prevented the criminal prosecution of a woman for having an abortion. It replaces that provision of law with language that allows for prosecution for the death of the unborn child, similar to prosecuting the death of any other person.
Action: Moved to deferred list in House Judiciary.
SB38
Sponsor: Sen. Jim Dotson
Summary: This bill repeals the income tax apportionment throwback rule that applies to the apportionment of business income.
Detailed Analysis: Considers tangible personal property to be any property delivered or shipped to a purchaser in the state
Action: Referred to Senate Revenue & Taxation Committee.
SB56
Sponsor: Sen. Ricky Hill and Rep. Jeff Wardlaw
Summary: This bill prevents a state agency from engaging in practices that utilize environmental, social, governance policies.
Detailed Analysis: This bill prevents state agencies from utilizing environmental, social, governance policies in rules or regulations.
Action: Withdrawn from consideration.
SB62
Sponsor: Sen. Ricky Hill, Rep. Jeff Wardlaw
Summary: Prohibits public entities from engaging in a boycott of energy, fossil fuel, firearms, and ammunition industries, or from contracting with a company without written certification that the company is not engaged in such boycotts.
Detailed Analysis: This bill will prevent the state government and its agencies all the way down to the local conservation district, as well as public institutions of higher education, from contracting with companies that refuse to do business with energy, fossil fuel, firearm, or ammunition industries. This bill appears to exclude financial service providers, as well as companies that can supply goods or services at a 20% lower cost than other certifying businesses and contracts for under $1,000.
Action: Referred to Senate State Agencies.
Passed
None
