SB104 Summary

• Appropriates $4,097,411 for the Department of Higher Education's general operations for fiscal year 2011-2012, including $2,443,116 for regular salaries of 52 employees and $654,270 for personal services matching.

• Appropriates $68,511,860 from the Higher Education Grants Fund Account for student assistance programs including Arkansas Academic Challenge Scholarships ($28,000,000), Arkansas Governor's Scholars ($10,750,000), and various teacher scholarship and loan repayment programs.

• Appropriates $5,391,670 for health education grants and loans in dentistry, optometry, veterinary medicine, chiropractic, podiatry, and osteopathy fields at out-of-state institutions.

• Authorizes additional appropriations of $15,019,917 for TANF Program federal funds, $1,565,258 for Improving Teacher Quality grants, $5,000,000 for Research Development grants, and $1,500,000 for College Access Challenge grants.

• Enacts two permanent Arkansas Code sections: one exempting six specified higher education institutions from competitive bidding on construction projects exceeding $5,000,000, and another requiring annual solvency certification from state-supported institutions' boards of trustees and presidents by February 28.