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*CJW011* 03/30/2026 11:00:15 AM CJW011
State of Arkansas 1
95th General Assembly A Bill 2
Fiscal Session, 2026 HOUSE BILL 1028 3
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By: Joint Budget Committee 5
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For An Act To Be Entitled 8
AN ACT TO MAKE AN APPROPRIATION FOR PERSONAL SERVICES 9
AND OPERATING EXPENSES FOR THE DEPARTMENT OF COMMERCE 10
- STATE BANK DEPARTMENT AND STATE SECURITIES 11
DEPARTMENT FOR THE FISCAL YEAR ENDING JUNE 30, 2027; 12
AND FOR OTHER PURPOSES. 13
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Subtitle 16
AN ACT FOR THE DEPARTMENT OF COMMERCE - 17
STATE BANK DEPARTMENT AND STATE 18
SECURITIES DEPARTMENT APPROPRIATION FOR 19
THE 2026-2027 FISCAL YEAR. 20
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BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS: 23
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SECTION 1. REGULAR SALARIES - OPERATIONS. There is hereby established 25
for the Department of Commerce - State Bank Department for the 2026-2027 26
fiscal year, the following maximum number of regular employees. 27
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Maximum Annual 29
Maximum Salary Rate 30
Item Class No. of Fiscal Year 31
No. Code Title Employees 2026-2027 32
(1) EEX06A BANK COMMISSIONER 1 GRADE EXE03 33
(2) EEX07A BANK DEPUTY COMMISSIONER 2 GRADE SPC10 34
(3) FBF01C BANK DEPUTY ADMINISTRATOR 6 GRADE SPC09 35
(4) LAT05P ATTORNEY III 1 GRADE SPC08 36
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(5) FBF06P BANK EXAMINER SUPERVISOR/EXPERT 10 GRADE SPC07 1
(6) FBF08P BANK EXAMINER VI 24 GRADE SPC06 2
(7) FBF07P BANK EXAMINER V 4 GRADE SPC05 3
(8) FBF05P BANK EXAMINER IV 7 GRADE SPC04 4
(9) FBF04P BANK EXAMINER III 10 GRADE SPC03 5
(10) FBF03P BANK EXAMINER II 4 GRADE SPC02 6
(11) FBF02P BANK EXAMINER I 10 GRADE SPC01 7
(12) FBU01P BUDGET ANALYST 1 GRADE SGS07 8
(13) HDH05P HR COORDINATOR 1 GRADE SGS07 9
(14) FFS02P FISCAL SUPPORT COORDINATOR 1 GRADE SGS06 10
(15) PAS01P ADMINISTRATIVE ANALYST 5 GRADE SGS05 11
(16) PAS02P ADMINISTRATIVE COORDINATOR 1 GRADE SGS04 12
(17) IAS06C APPLICATIONS SUPERVISOR/EXPERT 2 GRADE IST10 13
(18) IAS04P APPLICATIONS DEVELOPER I 1 GRADE IST06 14
(19) IAS07C STATE APPLICATIONS ADMINISTRATOR 1 GRADE IST11 15
MAX. NO. OF EMPLOYEES 92 16
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SECTION 2. EXTRA HELP. There is hereby authorized, for the Department 18
of Commerce - State Bank Department for the 2026-2027 fiscal year, the 19
following maximum number of part-time or temporary employees, to be known as 20
"Extra Help", payable from funds appropriated herein for such purposes: four 21
(4) temporary or part-time employees, when needed, at rates of pay not to 22
exceed those provided in the Uniform Classification and Compensation Act, or 23
its successor, or this act for the appropriate classification. 24
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SECTION 3. APPROPRIATION - OPERATIONS. There is hereby appropriated, 26
to the Department of Commerce, to be payable from the Bank Department Fund, 27
for personal services and operating expenses of the Department of Commerce - 28
State Bank Department for the fiscal year ending June 30, 2027, the 29
following: 30
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ITEM FISCAL YEAR 32
NO. 2026-2027 33
(01) REGULAR SALARIES $8,937,998 34
(02) EXTRA HELP 200,000 35
(03) PERSONAL SERVICES MATCHING 2,805,702 36
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(04) MAINT. & GEN. OPERATION 1
(A) OPER. EXPENSE 2,000,000 2
(B) CONF. & TRAVEL 375,000 3
(C) PROF. FEES 100,000 4
(D) CAP. OUTLAY 350,000 5
(E) DATA PROC. 0 6
TOTAL AMOUNT APPROPRIATED $14,768,700 7
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SECTION 4. REGULAR SALARIES. There is hereby established for the 9
Department of Commerce - State Securities Department for the 2026-2027 fiscal 10
year, the following maximum number of regular employees. 11
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Maximum Annual 13
Maximum Salary Rate 14
Item Class No. of Fiscal Year 15
No. Code Title Employees 2026-2027 16
(1) EEX38A SECURITIES COMMISSIONER 1 GRADE EXE02 17
(2) PPE03C DEPUTY SECURITIES COMMISSIONER 1 GRADE SPC09 18
(3) LAT05P ATTORNEY III 3 GRADE SPC08 19
(4) FIF02C CHIEF SECURITIES EXAMINER 1 GRADE SPC07 20
(5) LAT04P ATTORNEY II 4 GRADE SPC05 21
(6) FIF09P SECURITIES EXAMINER SUPERVISOR/EXP 5 GRADE SPC05 22
(7) FAC03P ACCOUNTING COORDINATOR 1 GRADE SPC03 23
(8) FIF08P SECURITIES EXAMINER II 16 GRADE SPC03 24
(9) FIF07P SECURITIES EXAMINER I 4 GRADE SPC01 25
(10) PCO01P COMMERCE PROGRAM COORDINATOR 2 GRADE SGS07 26
(11) PAS01P ADMINISTRATIVE ANALYST 2 GRADE SGS05 27
(12) IIS11P IT SUPERVISOR/EXPERT 1 GRADE IST09 28
MAX. NO. OF EMPLOYEES 41 29
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SECTION 5. EXTRA HELP. There is hereby authorized, for the Department 31
of Commerce - State Securities Department for the 2026-2027 fiscal year, the 32
following maximum number of part-time or temporary employees, to be known as 33
"Extra Help", payable from funds appropriated herein for such purposes: three 34
(3) temporary or part-time employees, when needed, at rates of pay not to 35
exceed those provided in the Uniform Classification and Compensation Act, or 36
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its successor, or this act for the appropriate classification. 1
2
SECTION 6. APPROPRIATION - OPERATIONS. There is hereby appropriated, 3
to the Department of Commerce, to be payable from the Securities Department 4
Fund, for personal services and operating expenses of the Department of 5
Commerce - State Securities Department for the fiscal year ending June 30, 6
2027, the following: 7
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ITEM FISCAL YEAR 9
NO. 2026-2027 10
(01) REGULAR SALARIES $2,767,558 11
(02) EXTRA HELP 50,000 12
(03) PERSONAL SERVICES MATCHING 952,985 13
(04) MAINT. & GEN. OPERATION 14
(A) OPER. EXPENSE 600,000 15
(B) CONF. & TRAVEL 75,000 16
(C) PROF. FEES 20,984 17
(D) CAP. OUTLAY 0 18
(E) DATA PROC. 0 19
(05) EXAMINATION TRAVEL 20,000 20
TOTAL AMOUNT APPROPRIATED $4,486,527 21
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SECTION 7. APPROPRIATION - REFUNDS AND REIMBURSEMENTS. There is hereby 23
appropriated, to the Department of Commerce, to be payable from the cash 24
funds as defined by Arkansas Code 19-4-801, for refunds and reimbursements of 25
the Department of Commerce - State Securities Department for the fiscal year 26
ending June 30, 2027, the following: 27
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ITEM FISCAL YEAR 29
NO. 2026-2027 30
(01) REFUNDS/REIMBURSEMENTS $50,000 31
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SECTION 8. APPROPRIATION - INVESTOR EDUCATION FUND. There is hereby 33
appropriated, to the Department of Commerce, to be payable from the Investor 34
Education Fund, for operating expenses, promotional items, and grants of the 35
Department of Commerce - State Securities Department for the fiscal year 36
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ending June 30, 2027, the following: 1
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ITEM FISCAL YEAR 3
NO. 2026-2027 4
(01) MAINT. & GEN. OPERATION 5
(A) OPER. EXPENSE $36,000 6
(B) CONF. & TRAVEL 10,000 7
(C) PROF. FEES 0 8
(D) CAP. OUTLAY 0 9
(E) DATA PROC. 0 10
(02) GRANTS AND AID 250,000 11
(03) PROMOTIONAL ITEMS 20,000 12
TOTAL AMOUNT APPROPRIATED $316,000 13
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SECTION 9. COMPLIANCE WITH OTHER LAWS. Disbursement of funds 15
authorized by this act shall be limited to the appropriation for such agency 16
and funds made available by law for the support of such appropriations; and 17
the restrictions of the State Procurement Law, the General Accounting and 18
Budgetary Procedures Law, the Revenue Stabilization Law, the Regular Salary 19
Procedures and Restrictions Act, or their successors, and other fiscal 20
control laws of this State, where applicable, and regulations promulgated by 21
the Department of Finance and Administration, as authorized by law, shall be 22
strictly complied with in disbursement of said funds. 23
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SECTION 10. LEGISLATIVE INTENT. It is the intent of the General 25
Assembly that any funds disbursed under the authority of the appropriations 26
contained in this act shall be in compliance with the stated reasons for 27
which this act was adopted, as evidenced by the Agency Requests, Executive 28
Recommendations and Legislative Recommendations contained in the budget 29
manuals prepared by the Department of Finance and Administration, letters, or 30
summarized oral testimony in the official minutes of the Arkansas Legislative 31
Council or Joint Budget Committee which relate to its passage and adoption. 32
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SECTION 11. EMERGENCY CLAUSE. It is found and determined by the 34
General Assembly, that the Constitution of the State of Arkansas prohibits 35
the appropriation of funds for more than a one (1) year period; that the 36
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effectiveness of this Act on July 1, 2026 is essential to the operation of 1
the agency for which the appropriations in this Act are provided, and that in 2
the event of an extension of the legislative session, the delay in the 3
effective date of this Act beyond July 1, 2026 could work irreparable harm 4
upon the proper administration and provision of essential governmental 5
programs. Therefore, an emergency is hereby declared to exist and this Act 6
being necessary for the immediate preservation of the public peace, health 7
and safety shall be in full force and effect from and after July 1, 2026. 8
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