AR HB1068

Establishes maximum of 40 regular employees for the State Securities Department for fiscal year 2011-2012, including 1 Securities Commissioner at $100,487 annually and various attorney, examiner, and administrative positions at specified salary grades.

Appropriates $3,426,918 from the Securities Department Fund for personal services and operating expenses, including $2,084,729 for regular salaries, $605,045 for personal services matching, and $505,144 for maintenance and general operations.

Appropriates $17,500,000 from cash funds for refunds and transfers to the State Treasury by the Securities Department for fiscal year 2011-2012.

Appropriates $78,500 from the Investor Education Fund for operating expenses ($71,000) and promotional items ($7,500).

Amends Arkansas Code §§ 19-6-475 and 23-42-211 to increase the deposit limitation into the Securities Department Fund from $1,000,000 to $2,000,000 annually until July 1, 2013, with an emergency effective date of July 1, 2011.