AR SB407

Appropriates $500,000 to the University of Arkansas for Medical Sciences for grants to Arkansas Children's Hospital for personal services, operating expenses, construction, renovation, equipment, furnishings, and maintenance.

Funds must be paid from the General Improvement Fund or its successor fund or fund accounts, with no contracts awarded exceeding actually available State Treasury funds.

Permits the University and Arkansas Children's Hospital to accept and use grants, donations, Federal funds, and unobligated cash income to supplement State funds for project financing.

Prohibits use of existing Maintenance and General Operations appropriations for any purposes covered by this act.

Requires all disbursements to comply with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and Department of Finance and Administration regulations.

Declares an emergency effective date of July 1, 2011 to ensure continuity of agency operations.