AR SB489

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.

Designated districts receiving funds are Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

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

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and Department of Finance and Administration regulations in fund disbursement.

Effective July 1, 2015, with an emergency clause declaring immediate effectiveness necessary for agency operations and essential governmental programs.