AR HB1086

Appropriates $3,479,649 to the State Securities Department for personal services and operating expenses for fiscal year 2012-2013, funded from the Securities Department Fund.

Authorizes a maximum of 40 regular employees and 2 part-time/temporary employees, with regular salaries totaling $2,128,777.

Appropriates $17,500,000 for refunds and transfers to the State Treasury from cash funds as determined by the Chief Fiscal Officer.

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

Grants the Securities Commissioner authority to request transfers from a $200,000 contingency fund to other line items with approval from the Governor, Chief Fiscal Officer, and Arkansas Legislative Council or Joint Budget Committee.