SB10 Summary

• Reappropriates balances from prior-year capital improvement appropriations to the Arkansas Economic Development Commission across multiple funding sources, effective July 1, 2016

• Reallocates $7,000,000 from Act 214 of 2015 for community improvement grants to counties and municipalities for public buildings, parks, cemeteries, and recreation centers

• Appropriates $225,000,000 in bond proceeds for economic development projects authorized under Amendment 82 to the Arkansas Constitution

• Reappropriates $86,025,718 in economic development incentive funds for financial incentives to companies locating or expanding facilities in Arkansas and hiring specified employment levels

• Authorizes reappropriation of remaining balances from various 2015 acts totaling approximately $418 million across rural services, science and technology, clean-burning fuel development, workforce training, and senior citizen center grants