SB 31 Summary

• Establishes a maximum of 30 regular employees for the Arkansas Science and Technology Authority for fiscal year 2015-2016, with the Director position at $107,553 annually and other positions assigned to specific salary grades.

• Appropriates $8,474,157 from the Miscellaneous Agencies Fund Account for State Operations, including $723,818 for regular salaries, $232,755 for personal services matching, and funding for technology development, seed capital investments, and the Arkansas Acceleration Fund Programs ($6,500,000).

• Appropriates $1,900,000 from the State Treasury cash fund for Seed Capital Investments in technology-based businesses.

• Appropriates $257,182 for the Arkansas Manufacturing Extension Network - State, $941,110 for the Federal program, and $1,455,986 for the Cash program; appropriates $3,994,815 for Arkansas EPSCOR - Federal and $3,150,000 for Arkansas EPSCOR II - Federal.

• Appropriates $18,700,000 for Arkansas Acceleration Fund grants and incentives and $5,000,000 for transfer to the Innovate Arkansas Fund; includes special language authorizing carry-forward of up to $150,000 in unexpended Technology Development funds and fund transfers with Chief Fiscal Officer approval.