TO REQUIRE A REPORT CONCERNING ECONOMIC DEVELOPMENT FUNDING SUPPORTING ORGANIZATIONS OR PROGRAMS FOR NEW BUSINESSES OR BUSINESSES ESTABLISHED WITHIN THE PREVIOUS FIVE YEARS.

HB 1377 requires Arkansas' Economic Development Commission to annually report on funding supporting new businesses or businesses established within the past five years. The report must detail the percentage and total dollar amount of economic development funds (including community development block grants) used for these purposes. This data must be submitted yearly starting in 2027 to the Governor and the House/Senate Commerce Committees. The bill does not change funding levels but mandates transparency about existing support for small businesses and startups operating in Arkansas.