AR SB297

Appropriates capital improvement funds to Arkansas institutions of higher education from the General Improvement Fund, effective July 1, 2015.

Provides funding to 11 higher education institutions including Arkansas State University ($30.893 million), University of Arkansas System ($30.330 million), and other state universities for construction, renovation, maintenance, and equipment purchases.

Requires all disbursements to comply with state purchasing laws, accounting procedures, and fiscal control laws unless specifically exempted by law.

Permits institutions to supplement state funds with grants, donations, federal funds, and unobligated cash income to finance projects, but prohibits using general operations funding for these capital improvement purposes.

Declares an emergency effective date of July 1, 2015, citing the constitutional one-year appropriation limit and need for immediate implementation of essential higher education infrastructure projects.