HB2232 Summary

• Creates the "89th Session Projects Account" within the General Improvement Fund to finance various state projects and programs through accumulated balances and reserve funds from the state treasury.

• Allocates $181.5 million to specific projects including $107.7 million for Arkansas Medicaid Program grants, $13 million for Department of Correction facility leases, and $8 million for teacher health insurance benefits.

• Distributes remaining available funds between Legislative Division projects (40.7% of funds) covering education, infrastructure, and economic development, and Executive Discretionary Division projects (59.3% of funds) covering maintenance, construction, and state operations.

• Authorizes fund transfers from multiple sources including unobligated General Improvement Fund balances, General Revenue Allotment Reserve Fund recoveries, interest income from state treasury investments, and transfers from the State Land Department ($1 million) and Red River Waterways Project Trust Fund ($10.5 million).

• Effective July 1, 2013, with funds to be fully distributed by June 30, 2015, subject to compliance audits and verification that project criteria have been met before disbursement.