AR SB496

Appropriates $8,000,000 total from the General Improvement Fund to eight regional 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 recipient agencies to supplement state funds with grants, donations, federal funds, and unobligated cash income for project financing purposes.

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

Becomes effective July 1, 2015 under emergency clause, with intent that funds be used in compliance with stated reasons documented in budget manuals and legislative records.