AR SB544

Appropriates $8,000,000 total from the General Improvement Fund to the Department of Finance and Administration - Disbursing Officer for grants to eight regional economic development districts, $1,000,000 each.

Recipient districts are: Northwest, North Central, Northeast, Southeast, Southwest, Western, West Central, and Central Arkansas Economic Development Districts.

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

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 emergency clause declaring immediate effectiveness essential to agency operations.