AR SB747

Appropriates $500,000 from the General Improvement Fund to the Economic Development Commission for 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 spur construction, road and highway improvements, environmental mitigation, and water and sewer system projects.

Authorizes the Economic Development Commission to adopt new rules and regulations to implement the appropriations without restriction from requirements applicable to other programs.

Permits recipient institutions and agencies to supplement state funds with grants, donations, federal funds, and unobligated cash income to finance project costs.

Establishes July 1, 2013 as the effective date and declares an emergency due to constitutional restrictions on multi-year appropriations and the need for immediate agency operations.