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AR HB1086
Bill
Status
5/3/2016
Primary Sponsor
Joint Budget Committee
Click for details
AI Summary
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Appropriates $603,600,000 to the State Board of Finance for the fiscal year ending June 30, 2017, payable from various state and federal balances
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Allocates funds for: $600,000 in premiums and discounts, $600,000,000 for purchase of securities, and $3,000,000 for principal, interest, and agent fees
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Authorizes investments in securities as prescribed in Arkansas Code 19-3-501 through 19-3-522
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Requires strict compliance with State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other fiscal control laws of the state
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Declares an emergency effective July 1, 2016, making the appropriation immediately necessary for agency operations
Legislative Description
An Act For The State Board Of Finance Appropriation For The 2016-2017 Fiscal Year.
Last Action
Notification that HB1086 is now Act 157
5/3/2016