HB 1482 Summary

• Appropriates $360,000 from the General Improvement Fund to the Arkansas Economic Development Commission for grants to cities, counties, planning and development districts, and other eligible entities.

• Authorized grant uses include land acquisition, construction, renovation, equipment purchase, industrial site development, intermodal facilities (including ports and rail spurs), road and highway improvements, environmental mitigation, and water and sewer system improvements.

• Agencies may supplement state funds with federal grants, donations, and unobligated cash income to finance full project costs.

• Appropriations must comply with state purchasing laws, accounting procedures, revenue stabilization laws, and all applicable fiscal control regulations.

• Act takes effect July 1, 2015 with an emergency clause to ensure immediate implementation for agency operations.