House approves Revenue Stabilization Law

By submitted, 03/8/22 4:35 PM

LITTLE ROCK – With a vote of 95-1 and 1 member voting present, the House advanced HB1117, the bill to amend the Revenue Stabilization Law. This bill outlines the $6 billion budget for the 2023 Fiscal Year. The budget is less than a 3 percent increase in spending from the current fiscal year. The proposed budget includes a $70 million increase for elementary and secondary education. County jail reimbursement is increased by $6.4 million. It also calls for a $7.4 million increase for Arkansas State Police. This will assist in raising the salaries for state troopers. The budget provides $37.6 million to help alleviate the waiting list for services for Arkansans with developmental disabilities. The budget also includes the transfer of $150 million for various one-time funding projects including prison construction. The House will reconvene Tuesday at 9am.