AR SB449

Appropriates $8,000,000 from the General Improvement Fund to eight Arkansas economic development districts ($1,000,000 each): Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Appropriates $2,000,000 from the General Improvement Fund to regional airport authorities for low-cost carrier incentives grants.

Allows recipient institutions and agencies to supplement State Treasury funds with grants, donations, Federal funds, and unobligated cash income to finance project costs.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws in fund disbursement.

Declares emergency clause with effective date of July 1, 2015, citing constitutional restrictions on appropriations longer than one year period and necessity for agency operations.