Bill would fund housing programs and set finance agency staffing rules

The Arkansas Development Finance Authority would receive $15 million for a federal housing program. The money would support the authority’s operating expenses for carrying out the federal housing program. The money would come from federal funds designated by the state’s Chief Fiscal Officer. Spending would remain subject to state budget, procurement, accounting, salary, and other fiscal-control laws. The appropriation would apply for the fiscal year ending June 30, 2027, with the act set to take effect July 1, 2026.

The Arkansas Development Finance Authority would provide $2,296,487 in grants and aid for emergency housing services. The money would support work with homeless individuals and families, emergency shelters, shelter services, and rapid rehousing. The money would come from federal funds designated by the state’s Chief Fiscal Officer. Spending would remain subject to state budget, procurement, accounting, salary, and other fiscal-control laws. The appropriation would apply for the fiscal year ending June 30, 2027, with the act set to take effect July 1, 2026.

The authority would set listed job titles and grades, allow director-approved salary adjustments and merit rewards, and authorize a pool of 20 additional positions. These provisions would apply to Arkansas Development Finance Authority employees and positions, including finance, legal, administrative, commerce, and public-finance jobs. The director could exceed maximum salary levels by no more than 20% for no more than one-third of authorized positions to recruit or retain highly qualified workers. The director could use the 20-position pool when the authority lacks enough positions to meet growth needs. The director would have to report each position-pool need determination annually to the authority board and two state officials. The staffing and pay provisions would take effect July 1, 2026, if the act takes effect as stated.