AR SB43

Appropriates $9,183,808 to the Arkansas Student Loan Authority for fiscal year 2012-2013, payable from cash funds defined by Arkansas Code 19-4-801.

Establishes maximum of 20 regular employees for the Authority with specified positions including Director, Chief Financial Officer, and various analysts and coordinators.

Allocates funds for regular salaries ($955,186), personal services matching ($285,497), operating expenses ($225,997), conferences and travel ($22,839), and professional fees ($7,694,289).

Permits contract workers employed through Edfinancial Services LLC to transfer to state employee status without break in service, retaining their contractual salary rates.

Effective July 1, 2012, with emergency clause declaring immediate effectiveness essential to agency operations.