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AR HCR1002
Concurrent Resolution
Status
3/9/2012
Primary Sponsor
Kathy Webb
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AI Summary
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Authorizes the Joint Budget Committee to introduce a bill amending Arkansas Code § 19-5-303 to establish three new higher education funds: Ozarka College Fund, Southeast Arkansas College Fund, and College of The Ouachitas Fund.
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Amends Arkansas Code § 19-5-311 to reorganize technical college funds by establishing separate funds for Black River Technical College, Ozarka College, Southeast Arkansas College, Pulaski Technical College, and Ouachita Technical College.
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Each new fund shall consist of general revenues provided by law and other funds made available for support of the respective college that are required to be deposited into the State Treasury.
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Amends Arkansas Code § 19-5-1103(b) and § 19-5-1227(b)(3) to update revenue sources for the Property Tax Relief Trust Fund and Educational Adequacy Fund by adding specific statutory references.
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Effective July 1, 2012; provides that any funds appropriated from the Ouachita Technical College Fund shall be deemed payable from the College of The Ouachitas Fund.
Legislative Description
To Authorize The Introduction Of A Nonappropriation Bill To Amend The Revenue Stabilization Law.
Last Action
House Died in House Committee at Sine Die adjournment.
3/9/2012