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HB1030

Arkansas HB1030: Funding for State Bond Payments in 2026-2027

Last scannedAug 22, 2026, 3:15 AM

In one sentence

This law gives the Office of the Treasurer money to pay back loans and interest on bonds used for college savings, higher education, water systems, waste disposal, pollution cleanup, and water resources development.

Sets aside $42 million from the College Savings Bond Fund to pay debt service and refunds for college savings and higher education bonds.
Sets aside $43 million from the Water, Waste Disposal and Pollution Abatement Facilities Bond Fund to pay debt service and refunds for water, waste disposal, pollution abatement, and water resources development bonds.
Allows money to move between refund accounts and debt payment accounts if the State Treasurer determines there is not enough cash on hand to cover bond payments.
Requires that all spending follows state laws about buying goods, keeping financial records, managing budgets, stabilizing revenue, and paying salaries.

The Office of the Treasurer of State
Holders of Arkansas College Savings General Obligation Bonds
Holders of Arkansas Higher Education General Obligation Bonds
Entities involved in water waste disposal, pollution abatement, and water resources development projects

The law only covers payments due during the fiscal year ending June 30, 2027.
Funds can be transferred between line items only if the State Treasurer decides there is not enough money for bond payments.

Plain language

Appropriation: An official act by the government to set aside a specific amount of money for a certain purpose.
Debt Service: The payment required to cover interest and principal on borrowed money, such as bonds.
General Obligation Bonds: Loans issued by the state that are backed by its power to tax citizens for repayment.

Official record

Source attached

AN ACT FOR THE OFFICE OF THE TREASURER OF STATE - GENERAL OBLIGATION BONDS APPROPRIATION FOR THE 2026-2027 FISCAL YEAR.