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Senate committee approves measure to give ADFA more flexibility; lawmakers seek safeguards
Summary
House Bill 17‑97 would give the Arkansas Development Finance Authority greater operational flexibility and exemptions from some administrative rules and procurement requirements; ADFA leaders said the authority does not spend state tax dollars and would remain subject to board oversight and federal program rules.
A Senate committee voted to pass House Bill 17‑97 as amended after a lengthy hearing in which the Arkansas Development Finance Authority (ADFA) described the bill as a measure to increase its flexibility to partner in private‑market transactions that support affordable housing, student loans and economic development.
Mark Conant, president of ADFA, told the committee the authority operates as a finance entity that "does not receive state tax dollars. We do not receive special revenue, general revenue, no penny of any kind, but we have a public mission." Conant and ADFA staff said the bill is…
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