AR SB471

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 grant uses include land acquisition, construction, renovation, equipment purchase, industrial site development, intermodal facilities (ports, waterways, rail spurs), road and highway improvements, environmental mitigation, and water and sewer system construction

Exempts the appropriation from standard program restrictions and allows the commission to adopt new rules and regulations to carry out the intent of the General Assembly

Requires strict compliance with state purchasing laws, accounting procedures, revenue stabilization laws, and fiscal control regulations unless specifically provided otherwise

Declares the act effective July 1, 2013 as an emergency measure necessary for the immediate preservation of the public peace, health, and safety