Sen. Justin Boyd

Maddy summarySenate Bill 47 proposes changes to Arkansas's financial statutes by amending both the Uniform Commercial Code (UCC) and the Arkansas Banking Code of 1997. The bill introduces a definition for "Central Bank Digital Currency" (CBDC) within the UCC and modifies other UCC definitions related to "money" and "deposit account." A key provision clarifies that under the Arkansas Banking Code, "deposit" and "deposit account" will explicitly not include central bank digital currency or investment property. This legislation aims to update the legal framework for classifying certain digital assets and traditional bank accounts for financial institutions in Arkansas.

Maddy summaryHouse Bill 1534 proposes to increase the existing homestead property tax credit. This bill directly affects homeowners by reducing the amount of property taxes they owe on their primary residence. The key mechanism is an adjustment to the credit amount, providing a larger tax reduction for eligible households.

Maddy summaryHouse Bill 1624 proposed changes to the membership of county law library boards in Arkansas. It aimed to add one circuit court judge and one district court judge to these boards, to be appointed by the county court for two-year terms. These judicial members would serve alongside the existing board members, who are practicing attorneys appointed from local bar association nominations. The bill also clarified the board's powers regarding library operation, fund expenditure, and property management.

Maddy summarySenate Bill 235 creates the Voluntary Portable Benefit Account Act, allowing independent contractors to open special accounts to fund benefit plans like health insurance, life insurance, or retirement. Hiring parties, who contract with independent contractors, may voluntarily contribute to these accounts. Contributions can also be made by withholding funds from an independent contractor's compensation, provided there is a clear, written, and voluntary opt-in agreement that allows the contractor to opt out at any time. A key provision ensures that these contributions cannot be used to determine a worker's employment classification as an independent contractor.

Maddy summaryHB 1726, known as the "Arkansas Kids Online Safety Act," aimed to establish safety regulations for certain online services. The provided amendment clarifies which online platforms would be subject to the act. It defines covered platforms as online platforms, messaging applications, or video streaming services that are intentionally designed, marketed, or promoted with the primary purpose of attracting or engaging individuals aged sixteen or younger. This amendment refines the scope of the bill to focus on services explicitly targeting minors.

Maddy summarySenate Bill 593 seeks to regulate Pharmacy Services Administrative Organizations (PSAOs) and amend provisions related to Pharmacy Benefits Managers (PBMs) within Arkansas. The bill requires PSAOs to register with the State Insurance Department and submit annual reports detailing their contracts with pharmacies and PBMs. It also mandates that PSAOs disclose any ownership ties to drug manufacturers or retailers. Additionally, PBMs would be required to offer Arkansas-specific amendments to their national contracts with PSAOs to ensure compliance with state laws.

Maddy summarySenate Bill 255 amends the definition of "drug" within the state's Food, Drug, and Cosmetic Act. The bill clarifies that "meat" is specifically excluded from the types of food that can be considered a drug under the act. It also removes a general reference to "or other animals" from the definition. This change primarily affects the regulatory framework for substances classified as drugs, particularly concerning food products and potentially impacting the food and drug industry.

Maddy summarySenate Bill 204 proposes to exempt certain financial gains from state gross income for tax purposes. This exemption would apply to taxpayers whose property is acquired by a government or entity under the right of eminent domain or the threat of condemnation. Essentially, any profit a property owner makes from such a forced sale would not be considered taxable income under this bill.

Maddy summarySB 404 would have required the personal representative of a deceased person's estate to notify the Arkansas Department of Finance and Administration (DFA) when the estate enters probate. This notification would be specifically required if the DFA had previously filed a certificate of indebtedness against the deceased individual. The bill outlined that this notice must include a copy of the petition for probate and the decedent's Social Security number, and specified the correct division within the DFA to receive it. This amendment aimed to ensure the DFA is informed of probate proceedings when it holds a claim against the decedent.

Maddy summarySenate Bill 140 aims to mandate the use of biosimilar medicines by health benefit plans and require healthcare providers to prescribe them, intending to improve access for patients. The bill includes an exception for "limited distribution drugs," defined as complex, high-cost, or safety-concern medications restricted by manufacturers to specific pharmacies. For these specific drugs, the mandate for biosimilar use would not apply. Additionally, the bill adjusts timelines for certain actions to occur "within a reasonable amount of time" and specifies that involved pharmacies must be accredited.