SB 689 Summary

• Changes Constitutional Officers Fund balance transfer threshold from "appropriations funded" to "anticipated obligations" to determine when excess balances exceeding 7% may transfer to State Central Services Fund

• Clarifies that federal reimbursements for eligible expenditures are included as revenues for Department of Correction Inmate Care and Custody Fund Account and Department of Community Correction Fund Account

• Amends State Insurance Department Trust Fund to explicitly exclude item (B) from special revenues and includes remaining funds of Arkansas Earthquake Authority

• Repeals Arkansas Water Resources Cost Share Revolving Fund (§ 19-5-1069) entirely

• Establishes maximum revenue allocations totaling $5,069,274,507 for fiscal year 2015-2016 and thereafter across multiple state funds and agencies, with three additional allocation tiers for remaining revenues