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For AR People

Apr 25 • 7 tweets • 1 min read • Read on X

#arleg fiscal session update: RSA is out and under consideration in Joint Budget Committee this morning, and both crypto bills have been scheduled for the House Committee on City, County, and Local Affairs on Tuesday of next week. There should be time for public comment. #arpx

The RSA, or Revenue Stabilization Act, is actually pretty cool and pretty unique among states. Passed in 1945, it eliminated a ton of random special funds and provided a formula for orderly and efficient monthly disbursement of revenue for the state.

According to @CALibrarySystem Encyclopedia of Arkansas (which, if you don't already know about it, is a phenomenal resource for all things Arkansas) the RSA means that "while the economic highs are not as high as in other states, neither are the economic lows as low."

This is one of the last things legislators tend to take up, so if they've got it on their desks, the end is in sight!

The Legislature is done for the day, so that means we're headed into the #arleg weekend! They'll be back on Tuesday for their final three days of session.

As a programming note, the pod episode for the week will drop either tomorrow afternoon or Monday. Upon adjournment of the session, we'll have a hopefully-not-too long retrospective of the session: what happened, how we feel about it, and how it'll impact Arkansans. See you then!

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For AR People

@ForARPeople1

Apr 30

Good morning folks! We are in the Joint Budget Committee today, where lawmakers are continuing to deal with the Revenue Stabilization Act. The other very outstanding piece of business is, of course, the fate of the crypto bills in the House. #arpx #arleg

(If you missed our short thread about the RSA, here it is!) threadreaderapp.com/thread/1783559…

The crypto bills are scheduled to be heard at 10AM in the House Committee on City, County, and Local Affairs.

Read 12 tweets

For AR People

@ForARPeople1

Apr 24

Good afternoon folks! We are posted up in the Senate ready for some more voting on crypto! #arpx #arleg

Sen. Irvin's amendment will be voted on, and Sen. Bryant's bill will get voted on. They may suspend the rules to go ahead and vote on Irvin's full bill as well.

@ArkDavey reported there was a chance King would try to expunge the vote on his resolutions and try again with updated language, but that may not happen now without Democrats' support.

And we are called to order! If the agenda holds, Irvin's amendment will be first (we expect it to pass easily), then a slate of resolutions recognizing various luminaries (and quite a few state champs!), then Bryant's bill. If King tries, that could (we think) happen anytime.

Read 62 tweets

For AR People

@ForARPeople1

Apr 23

We're posted up in the Senate Committee on City, County, and Local Affairs. No one yet signed up to speak for or against, and a pretty empty crowd.

Sen. Irvin up first. Wants to expunge previous vote and start over (makes the procedure go a bit faster).

Says the new language narrows definition of "digital asset mining business" to include "block chain network" - doesn't pull in *every* blockchain-using business.

Sen. Rice with a question: why are we giving foreign parties a year to divest?

A: Originally had it 120 days, but AG's office asked for extension to help them with legal procedures.

Read 12 tweets

For AR People

@ForARPeople1

Apr 18

Alrighty we are back in the Senate Committee on City, County, and Local Affairs, where the only two things on the agenda are the now-infamous crypto bills. Pretty packed room.

#arleg #arpx

Sounds like the bills have some amendments that the hardworking folks at BLR are sending over; then there will be a short recess so a few members can attend an event in the rotunda.

It'll be 10-20 minutes before they get started. Sorry for the false alarm! We'll stick with this thread, but you have time to pop your popcorn.

Read 80 tweets

For AR People

@ForARPeople1

Apr 18

Good afternoon, Arkansas! We are posted up in the Senate. On the calendar are a number of appropriations bills. We don't expect any drama there. #arpx #arleg

BUT.

We're hearing rumors that Sen. Irvin may put forward a motion to remove her crypto regulation bill from the Committee on Cities, Counties, and Local Affairs and move it to the Committee on Insurance and Commerce. Why would this be significant?

Those committees are slated to meet at the same time, so it's harder for the public/experts to comment on both; you can't be in two rooms at once!

To be clear, rumors only at this point, but it could happen.

Read 33 tweets

For AR People

@ForARPeople1

Apr 17

Good afternoon folks! We're posted up ready for the House session today, where they'll decide whether to let a number of bills regulating crypto/data mining centers in the state into the Fiscal Session.

Each resolution has now received the necessary 2/3 vote in the Senate, and House Rules recommended "Do Pass" with no audible Nays.

Other than that, we don't really have any insider knowledge as to how this'll go. They could sail through, or they could hit a roadblock.

Also on the docket is a resolution to hear Rep. Wooten's pay plan bill, which would authorize raises for state employees in a number of ways. This also came from House Rules with a "do pass" but legislators have a number of concerns about how the bill works.

Read 115 tweets

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