AR SB460

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

Appropriates an additional $2,000,000 from the General Improvement Fund for grants to regional airport authorities to fund low-cost carrier incentive programs.

Authorizes agencies to accept and use grants, donations, and Federal funds to supplement State Treasury funds for financing 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 disbursement of funds.

Declares an emergency effective July 1, 2015, finding that annual appropriation limitations under the Arkansas Constitution necessitate immediate implementation of the appropriations.