Senate Bill 22 Summary

• Amends the Arkansas Revenue Stabilization Law to update special revenues designated for the State Central Services Fund and Solid Waste Management and Recycling Fund by adding references to specific revenue classifications (sections 243-247 and 239-240)

• Establishes maximum revenue allocations of $4,786,488,165 for fiscal year 2013-2014 and thereafter, distributing funds across education, human services, corrections, higher education institutions, and various state agencies based on proportionate allocations

• Creates two additional funding tiers: $18,891,427 for the 89th Session Projects Account and $131,749,912 for supplemental allocations to various funds, particularly directing $90,000,000 to the Department of Human Services Grants Fund Account

• Designates an additional $2,000,000 in general revenue funding for the Higher Education Grants Fund Account to be used exclusively for the Arkansas Governor's Scholars Program during the 2013-2014 fiscal year

• Declares an emergency clause making the act effective July 1, 2013 to ensure changes take effect at the beginning of the fiscal year