AR SB26

Reappropriates the balance of capital improvement appropriations from Act 194 of 2015 to the Oil and Gas Commission, effective July 1, 2016, in the amount of $5,998,000 for construction of an office building in Little Rock.

Prohibits the Oil and Gas Commission from awarding contracts or incurring obligations exceeding State Treasury funds actually available, though allows supplementation 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 fund disbursement.

Directs that disbursed funds must comply with the stated reasons for the appropriation as evidenced in budget manuals, agency requests, executive recommendations, and legislative recommendations from the Department of Finance and Administration and Arkansas Legislative Council minutes.

Declares an emergency effective July 1, 2016, due to the Constitutional requirement that appropriations be limited to one-year periods and the essential nature of the appropriation to agency operations.