AR SB2

Reappropriates $10,000,000 from the balance of the "Rainy Day Set-Aside" appropriation in Act 148 of 2015, effective July 1, 2016, to the Office of the Governor for transfers to Revenue Stabilization Law accounts or Executive Discretionary Division projects.

Prohibits contracts or obligations exceeding State Treasury funds actually available, but allows agencies 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 Department of Finance and Administration regulations in disbursement of funds.

Specifies that appropriated funds must be used in compliance with stated reasons documented in Agency Requests, Executive Recommendations, Legislative Recommendations, budget manuals, letters, and official Arkansas Legislative Council or Joint Budget Committee minutes.

Declares an emergency clause making the act effective July 1, 2016, as required by the Arkansas Constitution's one-year appropriation limitation and essential for agency operations.