SB75 Summary

• Establishes a maximum of 103 regular employees for the Arkansas Economic Development Commission (AEDC) for fiscal year 2012-2013, with specific salary ranges by position classification.

• Appropriates $11.7 billion total across multiple funding sources including $4.8 million for regular salaries, $1.3 million for personal services matching, and $1.6 million for operating expenses from the Arkansas Economic Development Commission Fund Account.

• Appropriates $130.4 million in federal Community Development Block Grant (CDBG) funds for grants and disaster recovery (storm and flood recovery grants totaling $95.2 million).

• Appropriates $51.4 million in federal funds for the State Energy Plan and $2.3 million in cash funds for Energy Efficiency Arkansas program.

• Authorizes $230 million for Technology Acceleration Program and Super Projects funding, along with $250,000 in Regional Economic Development Partnership grants, funded by a transfer from the General Improvement Fund.