AR SB454

Appropriates $8,000,000 from the General Improvement Fund to the Department of Finance and Administration - Disbursing Officer for grants to eight regional economic development districts in Arkansas, with $1,000,000 allocated to each district.

The eight districts receiving grants are: Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

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

Requires strict compliance with state purchasing, accounting, budgetary procedures, revenue stabilization, and fiscal control laws in disbursing funds unless specifically exempted by law.

Takes effect July 1, 2015 as an emergency measure, with funds to be used in compliance with budget recommendations and legislative testimony relating to the appropriations.