SB74 Summary

• Establishes 21 regular employees for the Arkansas Science and Technology Authority for fiscal year 2012-2013, including a Director at $104,400 and various assistant directors and coordinators at specified salary grades.

• Appropriates $1,909,241 from the Miscellaneous Agencies Fund Account for state operations, including $681,796 for regular salaries, $207,269 for personal services matching, and funds for maintenance, operations, conferences, travel, and professional fees.

• Appropriates $1,900,000 from a cash fund for seed capital investments in technology-based businesses.

• Appropriates $23,079,238 from federal funds for Arkansas EPSCOR (Experimental Program to Stimulate Competitive Research) program operations, including $1,083,593 in regular salaries and $20,120,796 for grants and aid.

• Appropriates an additional $61,000,000 from the Arkansas Acceleration Fund for technology and knowledge-based economic development grants and incentives, plus separate appropriations for manufacturing extension networks and other research programs totaling over $1.2 million.