AR SB406

Appropriates $8,000,000 in total from the General Improvement Fund to the Department of Finance and Administration - Disbursing Officer for grants to eight regional economic development districts in Arkansas.

Each of the eight economic development districts receives $1,000,000: Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Permits recipient agencies to supplement state funds with federal grants, donations, and unobligated cash income to finance project costs.

Requires all fund disbursements to comply with state purchasing laws, accounting procedures, revenue stabilization laws, and Department of Finance and Administration regulations unless otherwise specified by law.

Act becomes effective July 1, 2015, with an emergency clause declaring the appropriation essential to agency operations.