Senate Bill 705 Summary

• Appropriates $10,000,000 from the General Improvement Fund to the Arkansas State Highway and Transportation Department for grants to Regional Intermodal Transportation Authorities

• Grant funds may be used for feasibility studies, planning, research, advertising, property acquisition, personal services, operations, bond costs, and construction, development, improvement, and maintenance of transportation facilities and services

• Authorizes receiving agencies to supplement State Treasury funds with grants, donations, Federal funds, and unobligated cash income to finance projects

• Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and fiscal control regulations unless otherwise specified by law

• Effective July 1, 2015, with emergency declaration due to constitutional prohibition on multi-year appropriations