Arkansas authorizes $85 million for state bond payments and refunds

The Arkansas State Treasurer may spend up to $42 million from the College Savings Bond Fund. The money covers Arkansas's college savings and higher education bonds: $32 million for principal and interest payments and $10 million for refunds and reimbursements. Actual spending depends on money legally available in the fund and must follow state spending rules. The law took effect July 1, 2026. This spending authority covers the fiscal year ending June 30, 2027.

The Arkansas State Treasurer may spend up to $43 million from the Water, Waste Disposal and Pollution Abatement Facilities Bond Fund. The money covers state bonds for water, waste disposal, and pollution control: $28 million for principal and interest payments and $15 million for refunds and reimbursements. Actual spending depends on money legally available in the fund and must follow state spending rules. The law took effect July 1, 2026. This spending authority covers the fiscal year ending June 30, 2027.

The State Treasurer may move permission to spend money from refunds and reimbursements to bond principal and interest payments. This permission covers college savings and higher education bonds, waste disposal and pollution control bonds, and water resources development bonds. The Treasurer must determine that the authorized amount for bonds coming due and interest payments is insufficient. The transfer permission applies only from July 1, 2026, through June 30, 2027.