AR SB714

Appropriates $2,000,000 to the University of Arkansas at Little Rock from the General Improvement Fund for personal services, operating expenses, research, and development of viable technologies by the UALR Nanotechnology Center.

Prohibits contracts or obligations exceeding available State Treasury funds, but allows the university to supplement with grants, donations, Federal funds, and unobligated cash income.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws in disbursement of appropriated funds.

Restricts use of existing Maintenance and General Operations funds for purposes covered by this appropriation.

Declares the act effective July 1, 2015 as an emergency measure necessary for agency operations and approved on March 24, 2015.