SB19 Summary

• Reappropriates unexpended balances from various 2013 appropriations to the Economic Development Commission effective July 1, 2014, including federal funds ($1,000,000), bond proceeds ($225,000,000), and cash funds ($1,000,000)

• Allocates Economic Development Incentive Fund balances totaling $77,046,051 for financial incentives to companies locating or expanding facilities and maintaining specified employment levels

• Authorizes reappropriation of funds for specific economic development initiatives including the Quick Action Closing Fund ($100,606,137), Innovate Arkansas ($5,400,001), and Clean-Burning Motor Fuel Development ($5,000,000)

• Provides General Improvement Funds totaling over $217 million from multiple 2013 acts for grants to cities, counties, and eligible entities for infrastructure, industrial development, health facilities, and workforce training projects

• Declares emergency clause effective July 1, 2014, stating the appropriations are essential to agency operations and compliance with state fiscal control laws is required