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Arkansas Code Title 6. Education § 6-85-502. Lottery fiscal impact statements--Required form
Current as of March 28, 2024 | Updated by Findlaw Staff
(a) Any bill filed with the Senate or the House of Representatives that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall:
(1)(A) Have a lottery fiscal impact statement attached to it.
(B) A bill that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall not be taken up by the House Committee on Education and the Senate Committee on Education, meeting jointly, until a lottery fiscal impact statement is attached; and
(2) Not take effect until at least one (1) year immediately following the year in which the scholarship was enacted.
(b) The lottery fiscal impact of a bill that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall be determined as follows:
(1) The amount of net proceeds from the state lottery during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;
(2) The total amount of additional revenue that is not net proceeds from the state lottery that is available, if any, to use as additional funding for scholarships;
(3) The amount of net proceeds necessary to fund scholarships under the Arkansas Academic Challenge Scholarship Program, § 6-85-201 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;
(4) The amount of net proceeds necessary to fund scholarships under the Arkansas Workforce Challenge Scholarship Program, § 6-85-301 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;
(5) The amount of net proceeds that was necessary to fund scholarships under the Arkansas Concurrent Challenge Scholarship Program, § 6-85-401 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;
(6) The amount of net proceeds necessary to fund any other scholarships funded with net proceeds from the state lottery, if any, during each of the last four (4) years, or number of years available, immediately preceding the year in which the proposed bill is being considered, listed separately;
(7) The year with the lowest amount of net proceeds from the state lottery, as determined under subdivision (b)(1) of this section, shall be compared with each of the following, listed separately:
(A) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Academic Challenge Scholarship Program, § 6-85-201 et seq., as determined under subdivision (b)(3) of this section;
(B) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Workforce Challenge Scholarship Program, § 6-85-301 et seq., as determined under subdivision (b)(4) of this section;
(C) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Concurrent Challenge Scholarship Program, § 6-85-401 et seq., as determined under subdivision (b)(5) of this section; and
(D) The year with the highest amount of net proceeds necessary to fund any other scholarships funded with net proceeds from the state lottery, if any, as determined under subdivision (b)(6) of this section; and
(8) The highest estimated cost necessary to fund a new scholarship to be funded with net proceeds from the state lottery or an existing scholarship that is funded with net proceeds from the state lottery.
(c) In addition to the information required under subsection (b) of this section, the final lottery fiscal impact of the new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall include and be calculated as follows:
(1) Add the amount of net proceeds from the year with the lowest amount of net proceeds from the state lottery as determined under subdivision (b)(1) of this section to the total amount of additional revenue available, if any, under subdivision (b)(2) of this section;
(2) Add the amount determined under subdivision (b)(8) of this section to each of the amounts determined under:
(A) Subdivision (b)(7)(A) of this section;
(B) Subdivision (b)(7)(B) of this section;
(C) Subdivision (b)(7)(C) of this section; and
(D) Subdivision (b)(7)(D) of this section, if any; and
(3) Subtract the total amount determined under subdivision (c)(2) of this section from the total amount determined under subdivision (c)(1) of this section.
(d)(1)(A) If the final lottery fiscal impact as determined under subdivision (c)(3) of this section results in a positive number, the House Committee on Education and the Senate Committee on Education, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable, may refer a bill creating a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or amending an existing scholarship funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, to either chamber of the General Assembly for consideration.
(B) The referral of a bill under subdivision (d)(1)(A) of this section shall require approval by a separate vote of House Committee on Education members and Senate Committee on Education members, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable.
(2) If the final lottery fiscal impact as determined under subdivision (c)(3) of this section results in a negative number, the House Committee on Education and the Senate Committee on Education, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable, shall not refer the bill to either chamber of the General Assembly for consideration unless:
(A) The bill is amended to ensure the final lottery fiscal impact results in a positive number; or
(B) Additional funding is provided through the General Revenue Fund Account.
(e) The lottery fiscal impact statement shall be substantially in the following form:
Lottery Fiscal Impact Statement
I. Net proceeds from the state lottery for the 4 immediately preceding years:
|
Year: |
Net Proceeds Amount: |
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|
_____________ |
_____________________________________ |
|||
|
_____________ |
_____________________________________ |
|||
|
_____________ |
_____________________________________ |
II. Total amount of additional revenue available, if any:
|
Source: |
Amount: |
|||
|
_______________ |
_____________________________________ |
|||
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_______________ |
_____________________________________ |
|||
|
_______________ |
_____________________________________ |
III. Net proceeds used to fund the following during the 4 immediately preceding years:
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ACADEMIC CHALLENGE SCHOLARSHIP: |
CONCURRENT CHALLENGE SCHOLARSHIP: |
|||||
|
Year: |
Net Proceeds Used: |
Year: |
Net Proceeds Used: |
|||
|
__________ |
____________________ |
__________ |
____________________ |
|||
|
__________ |
____________________ |
__________ |
____________________ |
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__________ |
____________________ |
__________ |
____________________ |
|
WORKFORCE CHALLENGE SCHOLARSHIP: |
OTHER SCHOLARSHIPS, IF ANY: |
|||||
|
Year: |
Net Proceeds Used: |
Year: |
Net Proceeds Used: |
|||
|
__________ |
____________________ |
__________ |
____________________ |
|||
|
__________ |
____________________ |
__________ |
____________________ |
|||
|
__________ |
____________________ |
__________ |
____________________ |
AMOUNT USED TO FUND NURSING SCHOOL SCHOLARSHIPS*:
|
Year: |
Net Proceeds Used: |
*Scholarship awards paid to recipients |
|
_______________ |
______________________________ |
attending approved schools of nursing are |
|
_______________ |
______________________________ |
funded only from nonlottery state educational |
|
_______________ |
______________________________ |
resources as set forth under Arkansas Code § 6-85-213. |
IV. Comparison of information from Parts I and III:
|
_________________________________________________ |
|
|
Amount from year with the highest amount of net proceeds used to fund Academic Challenge Scholarships |
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_________________________________________________ |
|
|
Amount from year with the highest amount of net proceeds used to fund Workforce Challenge Scholarships |
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|
_________________________________________________ |
|
|
Amount from year with the lowest |
_________________________________________________ |
|
amount of net proceeds as |
Amount from year with the highest |
|
determined under Section I |
amount of net proceeds used to fund Concurrent Challenge Scholarships |
|
_________________________________________________ |
|
|
Amount from year with the highest amount of net proceeds used to fund other scholarships, if any, other than nursing scholarships under Arkansas Code § 6-85-213 |
V. Highest estimated cost necessary to fund a new or amended scholarship:
VI. Final lottery fiscal impact amount:
|
Step 1: |
||||
|
Amount from year with the |
Total amount of additional |
|||
|
lowest amount of net proceeds |
+ |
revenue available, if any, |
= |
_____________ |
|
determined under Section I |
determined under Section II |
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|
Step 2: |
||||
|
Highest estimated cost |
Total amount from years with |
|||
|
necessary to fund the new or |
+ |
the highest amount of net |
= |
_____________ |
|
amended scholarship as |
proceeds used to fund Academic |
|||
|
determined under Section V |
Challenge, Workforce Challenge, Concurrent Challenge, nursing school scholarships, and other scholarships, if any, as determined under Section III |
|||
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Step 3: |
||||
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Amount determined under Step 1 |
- |
Amount determined under Step 2 |
= |
_____________ |
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Step 4: |
(a) If the amount determined under Step 3 results in a positive number, the proposed new scholarship or amendment to an existing scholarship may be considered as set forth under Arkansas Code § 6-85-502(d)(1).
(b) If the amount determined under Step 3 results in a negative number, the proposed new scholarship or amendment to an existing scholarship should not be considered unless requirements are met as set forth under Arkansas Code § 6-85-502(d)(2).
Cite this article: FindLaw.com - Arkansas Code Title 6. Education § 6-85-502. Lottery fiscal impact statements--Required form - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-6-education/ar-code-sect-6-85-502/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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