AR SB463

Appropriates $8,000,000 from the General Improvement Fund to eight economic development districts in Arkansas, with $1,000,000 allocated to each district.

Designated recipients include the Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Authorizes recipients to supplement state funds with grants, donations, and federal funds, and permits adoption of new rules and regulations to carry out the appropriation.

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

Takes effect July 1, 2015 under emergency clause, with funds restricted to purposes documented in budget manuals and legislative council or joint budget committee minutes.