AR SB567

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.

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

Authorizes the Department of Finance and Administration to adopt new rules and regulations to implement the appropriations without restriction from requirements applicable to other programs.

Permits recipient institutions to accept and use federal grants, donations, and unobligated funds to supplement state appropriations for project financing.

Becomes effective July 1, 2015 under an emergency clause due to constitutional restrictions on multi-year appropriations and operational necessity for the agencies.