AR SB143

Appropriates $5,000,000 to the Economic Development Commission for the Economic Development Incentive Quick Action Closing Fund for fiscal year 2013-2014, supplemental to funds previously appropriated in Act 1313 of 2013.

Directs the Chief Fiscal Officer to transfer $5,000,000 from unobligated funds in the General Improvement Fund to the Economic Development Incentive Quick Action Closing Fund immediately upon the bill's effective date.

Requires all fund disbursements to comply with state procurement law, accounting procedures, revenue stabilization law, salary restrictions, and other fiscal control laws and Department of Finance and Administration regulations.

Specifies that funds must be used in compliance with stated legislative intent as documented in budget manuals, agency requests, executive recommendations, and legislative council or joint budget committee minutes.

Declares an emergency clause, finding that insufficient funds were appropriated for the Economic Development Commission to continue essential governmental services, making the act effective immediately upon passage and approval.