AR SB477

Appropriates $200,000 to the Economic Development Commission from the General Improvement Fund for capital improvement grants to cities, counties, planning and development districts, and other eligible entities.

Grant funds may be used for land acquisition, construction, renovation, equipment purchase, industrial site development, intermodal facilities, rail and highway improvements, environmental mitigation, and water and sewer system improvements.

Authorizes the Economic Development Commission to adopt new rules and regulations to carry out the appropriation without restrictions applicable to other programs.

Allows recipients to supplement state funds with federal grants, donations, and unobligated cash income, provided that existing maintenance and operations funds are not diverted for these purposes.

Effective July 1, 2013 with an emergency clause due to constitutional restrictions on multi-year appropriations and the need for immediate agency operations.