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AR HB1104
Bill
Status
4/8/2013
Primary Sponsor
Joint Budget Committee
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AI Summary
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Appropriates $603.6 million to the State Board of Finance for investments in securities for fiscal year 2013-2014, funded from various state and federal balances.
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Allocates funds as follows: $600,000 for premiums and discounts, $600 million for purchase of securities, and $3 million for principal, interest, and agent fees.
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Requires investments to comply with Arkansas Code 19-3-101 and 19-3-501 through 19-3-522.
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Mandates strict compliance with State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other fiscal control laws in fund disbursement.
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Declares an emergency effective July 1, 2013, stating that annual appropriation requirements and immediate funding are essential to state operations.
Legislative Description
An Act For The State Board Of Finance - Investments Appropriation For The 2013-2014 Fiscal Year.
Last Action
Notification that HB1104 is now Act 962
4/8/2013