AR SB468

Appropriates $1,000,000 from the General Improvement Fund to the Economic Development Commission for capital improvement grants to cities, counties, planning and development districts, and other eligible entities.

Eligible uses include land acquisition, construction, renovation, major maintenance, equipment purchase, industrial site development, intermodal facilities, rail spur construction, road and highway improvements, environmental mitigation, and water and sewer system construction.

Appropriations are not restricted by requirements applicable to other programs; new rules and regulations may be adopted to carry out the General Assembly's intent.

Contracts and obligations are limited to State Treasury funds actually available, but agencies may supplement with grants, donations, Federal funds, and unobligated cash income to finance full project costs.

Emergency clause makes the act effective July 1, 2013, finding such immediate effectiveness essential to agency operations.