SB 147 Summary

• Amends the Arkansas Revenue Stabilization Law to modify fund compositions and revenue allocations for fiscal year 2014-2015 and thereafter

• Adds new special revenue categories (items 247-252) to the Revenue Classification Law, including nonprofit motor vehicle fleet fees, suspended registration reinstatement fees, franchise authority fees, lead-based paint violation penalties, and voice stress analysis examiner license fees

• Modifies maximum allocations for multiple state funds including the Public Health Fund, State Administration of Justice Fund, Department of Labor Special Fund, and Department of Arkansas State Police Fund to incorporate newly designated special revenues

• Establishes three separate tier allocations of general revenues totaling $4,965,380,226 for fiscal year 2014-2015, with additional $19,000,000 and $51,069,774 allocated for discretionary projects and supplemental distributions

• Transfers $3,000,000 from General Improvement Fund, $3,000,000 from Department of Workforce Services Special Fund, and $3,500,000 from Unemployment Insurance Administration Fund to the Arkansas Economic Development Commission Fund Account, effective July 1, 2014