AR SB824

Creates the "State Entity Energy Efficiency Project Bond Act" as a new subchapter (15-5-1801 et seq.) to authorize Arkansas Development Finance Authority to issue bonds for energy efficiency projects at the request of state entities.

Allows state entities to finance energy efficiency improvements through bonds that may be secured by energy savings, general revenues, guaranteed energy savings contracts, or long-term loan agreements with the Authority.

Requires state entities to apply for approval and submit authorizing resolutions; Authority must determine that energy savings and other available revenues are sufficient to fund the requested bond issue.

Makes bond interest exempt from state, county, and municipal income, inheritance, and estate taxes and permits state entities to use maintenance and operations appropriations to pay for energy efficiency projects.

Applies only to state government and its agencies, boards, commissions, and instrumentalities; does not apply to counties, municipalities, school districts, or other political subdivisions.