AR SB709

Appropriates $40 million total from the General Improvement Fund to eight Arkansas economic development districts, with $5 million allocated to each district.

Designated recipients include the Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Allows recipient agencies to accept and use federal grants, donations, and unobligated cash income to supplement state funds for financing project costs.

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

Takes effect July 1, 2013 under emergency clause declaration, with funds to be used in compliance with stated reasons documented in budget manuals and legislative records.