AR SB477

Appropriates $500,000 each from the General Improvement Fund to eight regional economic development districts in Arkansas: Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

Total appropriation of $4,000,000 distributed equally among the eight planning and development districts for grants.

Allows recipient institutions to supplement state funds with grants, donations, federal funds, and unobligated cash income for project financing.

Requires strict compliance with state purchasing laws, accounting procedures, revenue stabilization laws, and Department of Finance and Administration regulations in fund disbursement.

Takes effect July 1, 2015, with an emergency clause declaring the appropriations essential to agency operations.