AR SB485

Appropriates $250,000 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.

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

Allows the Economic Development Commission to adopt new rules and regulations to implement the appropriation without being restricted by requirements applicable to other programs.

Permits grant recipients to supplement state funds with federal grants, donations, and unobligated cash income to cover full project costs.

Declares an emergency effective date of July 1, 2013 to ensure immediate operation of the agency and prevent irreparable harm to essential governmental programs.