AR SB550

Appropriates $1,000,000 from the General Improvement Fund to the Arkansas Economic Development Commission for grants to cities, counties, and planning districts for land acquisition, construction, equipment purchase, industrial site development, intermodal facilities, environmental mitigation, and water and sewer system improvements.

Appropriates $1,000,000 to the Arkansas World Trade Center for personal services, operating expenses, materials, equipment, renovations, construction, repair, and maintenance.

Authorizes recipient institutions and agencies to accept and use grants, donations, Federal funds, and unobligated cash income to supplement state treasury funds for project financing.

Establishes that new rules and regulations may be adopted to carry out the appropriations, and requires compliance with state purchasing laws, accounting procedures, and fiscal control laws unless specifically provided otherwise.

Takes effect July 1, 2015 under emergency clause provisions.