All Roll Calls
Yes: 130 • No: 0
ArkansasSB2322025 Regular SessionSenateWALLET
TO AMEND VARIOUS PROVISIONS OF THE ARKANSAS SCHOLARSHIP LOTTERY ACT; AND TO DECLARE AN EMERGENCY.
Sponsored By: Bruce Cozart (Republican), Jimmy Hickey, Jr (Republican)
Enacted
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
Fewer barriers to Concurrent Challenge scholarships
Beginning July 1, 2025, the law removes one barrier to Arkansas Concurrent Challenge Scholarships. Students cannot be denied because the Division of Higher Education borrowed from the scholarship reserve for Academic Challenge the previous year. Awards remain unavailable in any academic year with less than $250,000 available for Concurrent Challenge.
New accounting rules for scholarship money
Beginning July 1, 2025, lottery proceeds include interest and other money earned through lottery operations. Scholarship net proceeds must follow generally accepted accounting principles. The calculation deducts operating expenses, money needed to bring the fidelity fund to $500,000, and undepreciated capital assets. It also includes required Multi-State Lottery Association reserve adjustments and accounting adjustments affecting unrestricted, but not restricted, net position. Fidelity fund revenue above $500,000 counts toward net proceeds; the law does not state the resulting change in scholarship funding.
Scholarship reserve ends; money shifts
Beginning July 1, 2025, the law ends the Scholarship Shortfall Reserve Trust Account and its required deposits. The reserve no longer covers scholarship shortfalls, and the new Lottery Scholarship Trust Account pays scholarship awards and administration costs. The former reserve's $20 million must first clear the lottery office's deficit in its Unrestricted Net Position account. Any money left must enter the new scholarship trust before December 31, 2025, through this one-time transfer. Ending reserve deposits removes a deduction from scholarship funding, but the law guarantees no student a specific award.
Sponsors & Cosponsors
Sponsors
Bruce Cozart
Republican • House
Jimmy Hickey, Jr
Republican • Senate
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 3/31/2025
House Vote - Monday, March 31, 2025 3:27:09 PM
Yes: 97 • No: 0
Senate vote • 3/19/2025
Senate Vote - Wednesday, March 19, 2025 2:27:30 PM
Yes: 33 • No: 0 • Other: 1
Actions Timeline
Notification that SB232 is now Act 429
4/7/2025SenateDELIVERED TO GOVERNOR.
4/1/2025SenateReported correctly enrolled and ordered delivered to the Governor.
4/1/2025SenateORDERED ENROLLED
3/31/2025SenateReturned from the House as passed.
3/31/2025SenateReturned to the Senate as passed.
3/31/2025HouseEMERGENCY CLAUSE ADOPTED
3/31/2025HouseRead the third time and passed and ordered transmitted to the Senate.
3/31/2025HouseRead the first time, rules suspended, read the second time and placed on the CALENDAR.
3/19/2025HouseRECEIVED FROM THE SENATE
3/19/2025HouseOrdered immediately transmitted to the House.
3/19/2025SenateEMERGENCY CLAUSE ADOPTED
3/19/2025SenateRead the third time and passed.
3/19/2025SenateREPORTED CORRECTLY ENGROSSED
3/18/2025SenateAmendment # 3 read the first time, rules suspended, read the second time and adopted, ordered engrossed.
3/18/2025SenatePlaced on second reading for purpose of amendment.
3/18/2025SenateReturned by the Committee with the recommendation that it Do Pass as amended, Amendment # 3
3/17/2025SenateRe-referred to EDUCATION COMMITTEE - SENATE
3/11/2025SenateREPORTED CORRECTLY ENGROSSED
3/11/2025SenateAmendment # 2 read the first time, rules suspended, read the second time and adopted, ordered engrossed.
3/11/2025SenateWithdrawn from Committee and placed on 2nd reading for purpose of amendment # 2
3/11/2025SenateRe-referred to EDUCATION COMMITTEE - SENATE
2/25/2025SenateREPORTED CORRECTLY ENGROSSED
2/25/2025SenateAmendment # 1 read the first time, rules suspended, read the second time and adopted, ordered engrossed.
2/25/2025SenateWithdrawn from Committee and placed on 2nd reading for purpose of amendment # 1
2/25/2025Senate
Bill Text
SB232 - Introduced
2/13/2025
Act Version
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