AR SB568

Appropriates $8,000,000 total from the General Improvement Fund to the Department of Finance and Administration for grants to eight regional economic development districts in Arkansas, with $1,000,000 allocated to each district.

The eight designated districts receiving grants are: Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Allows recipient institutions and agencies to supplement state funds with grants, donations, and Federal funds, but prohibits use of existing Maintenance and General Operations appropriations for these grant purposes.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws in disbursement of funds.

Declares the Act effective July 1, 2013 as an emergency measure essential to agency operations, with funds to be used in compliance with stated purposes documented in budget manuals and legislative records.