AR SB494

Appropriates $1,000,000 to the University of Arkansas from the General Improvement Fund for an Arkansas Teacher Corps grant to provide training and support for Arkansas teachers statewide.

Requires all contracts and obligations to comply with State Treasury fund availability and applicable state fiscal control laws including State Purchasing Law, General Accounting and Budgetary Procedures Law, and Revenue Stabilization Law.

Permits the University of Arkansas to supplement the state appropriation with grants, donations, federal funds, and unobligated cash income to finance the full project costs.

Prohibits using existing Maintenance and General Operations funds appropriated to the University for the purposes of this act.

Takes effect July 1, 2015 under an emergency clause citing the constitutional restriction on appropriations to one-year periods.