To Repeal The Small Business Revolving Loan Fund For Pollution Control And Prevention Technologies Act; And To Repeal The Small Business Revolving Loan Fund.
Summary
SB367 repeals Arkansas’s Small Business Revolving Loan Fund for Pollution Control and Prevention Technologies Act and eliminates the Small Business Revolving Loan Fund created under that law. The bill removes the statutory framework that allowed the Division of Environmental Quality to operate a publicly capitalized revolving loan program for small businesses making pollution control, pollution prevention, and waste reduction investments. It also repeals the related provisions in the state fiscal code that established the fund on the books of state financial officers and directed how money in the fund was to be deposited, invested, and used.
Under the repealed law, eligible small businesses with 100 or fewer employees could apply for low-interest loans of up to $45,000 per project and $65,000 per applicant, subject to repayment terms, fee compliance, and a certificate of need from the Division of Environmental Quality. The program was intended to help businesses meet environmental regulatory requirements and adopt cleaner technologies. By repealing these provisions, SB367 ends the state-authorized loan mechanism and removes the Division’s authority to administer the program and issue loans under that subchapter.
Impact
The bill directly repeals Arkansas Code Title 8, Chapter 5, Subchapter 8, and Arkansas Code § 19-5-1105, thereby removing the legal basis for the Small Business Revolving Loan Fund and its associated administration. As a result, the Division of Environmental Quality no longer has statutory authority to operate the revolving loan program, manage its fund, or issue certificates of need for loans under the repealed framework. Any references in state law to the fund’s structure, funding sources, and permitted uses are deleted, and the program is removed from the state’s environmental and fiscal statutes.
Sentiment
The voting history shows strong bipartisan support and no recorded opposition, with unanimous third-reading votes in both chambers reflected in the available history. The absence of committee transcripts limits insight into debate, but the floor votes suggest the repeal was broadly accepted. Overall, the bill appears to have moved with little visible controversy in the legislative record provided.
Contention
Because no committee transcripts are available, there is no documented floor or committee debate identifying specific objections. The main policy issue inherent in the bill is that it eliminates a financing tool for small businesses seeking to comply with environmental regulations or invest in pollution prevention and waste reduction. Any concern would likely center on the loss of low-cost capital for affected businesses versus the view that the program was no longer needed or should be discontinued, but the provided record does not show named opponents or supporters arguing those points.