AR SB722

Appropriates $500,000 to Arkansas State University from the General Improvement Fund for construction, renovation, maintenance, critical maintenance, equipment, security enhancements, technology upgrades/equipment, and library resources.

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

Restricts use of funds appropriated for Maintenance and General Operations from being diverted to purposes in this act.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and Department of Finance and Administration regulations in fund disbursement.

Declares an emergency effective July 1, 2015 to ensure immediate operation of the university, citing Arkansas Constitution prohibition on appropriations exceeding one-year periods.