AR SB141

Appropriates $10,000,000 to the Economic Development Commission from the Arkansas Economic Development Commission Fund Account for the fiscal year ending June 30, 2015.

Funds may be used for grants to cities, counties, planning and development districts, and other eligible entities for land acquisition, improvements, construction, renovation, major maintenance, equipment purchases, industrial site development, and water and sewer system construction.

Directs the State Treasurer and Auditor to transfer $10,000,000 from unobligated General Improvement Fund balances to the Arkansas Economic Development Commission Fund Account upon the act's effective date.

Requires all fund disbursements to comply with state procurement law, accounting procedures, revenue stabilization law, salary procedures, and other applicable fiscal control laws and regulations.

Declares an emergency effective July 1, 2014 to ensure the Economic Development Commission can operate during the fiscal year without delay.