Section 6-85-502 - Lottery fiscal impact statements - Required form(a) Any bill filed with the Senate or the House of Representatives that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall: (1)(A) Have a lottery fiscal impact statement attached to it.(B) A bill that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall not be taken up by the House Committee on Education and the Senate Committee on Education, meeting jointly, until a lottery fiscal impact statement is attached; and(2) Not take effect until at least one (1) year immediately following the year in which the scholarship was enacted.(b) The lottery fiscal impact of a bill that creates a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or affects an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall be determined as follows: (1) The amount of net proceeds from the state lottery during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;(2) The total amount of additional revenue that is not net proceeds from the state lottery that is available, if any, to use as additional funding for scholarships;(3) The amount of net proceeds necessary to fund scholarships under the Arkansas Academic Challenge Scholarship Program, § 6-85-201 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;(4) The amount of net proceeds necessary to fund scholarships under the Arkansas Workforce Challenge Scholarship Program, § 6-85-301 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;(5) The amount of net proceeds that was necessary to fund scholarships under the Arkansas Concurrent Challenge Scholarship Program, § 6-85-401 et seq., during each of the last four (4) years immediately preceding the year in which the proposed bill is being considered, listed separately;(6) The amount of net proceeds necessary to fund any other scholarships funded with net proceeds from the state lottery, if any, during each of the last four (4) years, or number of years available, immediately preceding the year in which the proposed bill is being considered, listed separately;(7) The year with the lowest amount of net proceeds from the state lottery, as determined under subdivision (b)(1) of this section, shall be compared with each of the following, listed separately:(A) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Academic Challenge Scholarship Program, § 6-85-201 et seq., as determined under subdivision (b)(3) of this section;(B) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Workforce Challenge Scholarship Program, § 6-85-301 et seq., as determined under subdivision (b)(4) of this section;(C) The year with the highest amount of net proceeds necessary to fund scholarships under the Arkansas Concurrent Challenge Scholarship Program, § 6-85-401 et seq., as determined under subdivision (b)(5) of this section; and(D) The year with the highest amount of net proceeds necessary to fund any other scholarships funded with net proceeds from the state lottery, if any, as determined under subdivision (b)(6) of this section; and(8) The highest estimated cost necessary to fund a new scholarship to be funded with net proceeds from the state lottery or an existing scholarship that is funded with net proceeds from the state lottery.(c) In addition to the information required under subsection (b) of this section, the final lottery fiscal impact of the new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or an existing scholarship that is funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, shall include and be calculated as follows: (1) Add the amount of net proceeds from the year with the lowest amount of net proceeds from the state lottery as determined under subdivision (b)(1) of this section to the total amount of additional revenue available, if any, under subdivision (b)(2) of this section;(2) Add the amount determined under subdivision (b)(8) of this section to each of the amounts determined under:(A) Subdivision (b)(7)(A) of this section;(B) Subdivision (b)(7)(B) of this section;(C) Subdivision (b)(7)(C) of this section; and(D) Subdivision (b)(7)(D) of this section, if any; and(3) Subtract the total amount determined under subdivision (c)(2) of this section from the total amount determined under subdivision (c)(1) of this section.(d)(1)(A) If the final lottery fiscal impact as determined under subdivision (c)(3) of this section results in a positive number, the House Committee on Education and the Senate Committee on Education, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable, may refer a bill creating a new scholarship to be funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, or amending an existing scholarship funded with net proceeds from the state lottery or the Higher Education Grants Fund Account, as applicable, to either chamber of the General Assembly for consideration.(B) The referral of a bill under subdivision (d)(1)(A) of this section shall require approval by a separate vote of House Committee on Education members and Senate Committee on Education members, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable.(2) If the final lottery fiscal impact as determined under subdivision (c)(3) of this section results in a negative number, the House Committee on Education and the Senate Committee on Education, meeting jointly during a regular session, extraordinary session, or fiscal session, as applicable, shall not refer the bill to either chamber of the General Assembly for consideration unless:(A) The bill is amended to ensure the final lottery fiscal impact results in a positive number; or(B) Additional funding is provided through the General Revenue Fund Account.Added by Act 2021, No. 636,§ 3, eff. 4/12/2021.