AR SB534

Appropriates $200,000 from the General Improvement Fund to the Economic Development Commission for grants to cities, counties, planning and development districts, and other eligible entities.

Grants may be used for land acquisition, improvements, construction, renovation, major maintenance, equipment purchase, industrial site development, intermodal facilities (including ports and rail spurs), road and highway improvements, environmental mitigation, and water and sewer system construction.

Permits new rules and regulations to be adopted by the Economic Development Commission to implement the appropriation without restriction by requirements applicable to other programs.

Allows recipient institutions and agencies to supplement state funds with grants, donations, federal funds, and unobligated cash income for project financing.

Becomes effective July 1, 2011 with emergency clause citing constitutional restrictions on multi-year appropriations and need for immediate agency operation.