AR SB72

Establishes a maximum of 5 regular employees for the Arkansas Student Loan Authority for fiscal year 2016-2017, including a Director, Federal Program Financial Officer, Student Loan Finance Specialist, Executive Assistant, and Fiscal Support Analyst.

Appropriates $3,814,832 from cash funds for the Arkansas Student Loan Authority for personal services and operating expenses for the fiscal year ending June 30, 2017, comprised of $365,877 in regular salaries, $107,010 in personal services matching, and $3,341,945 in maintenance and general operations.

Requires disbursement of funds to comply with the State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures and Restrictions Act, and other applicable fiscal control laws and Department of Finance and Administration regulations.

Establishes legislative intent that funds be disbursed in compliance with stated reasons evidenced by agency requests, executive recommendations, legislative recommendations, and official minutes of the Arkansas Legislative Council or Joint Budget Committee.

Declares an emergency clause making the act effective July 1, 2016, stating that delayed effectiveness could harm the agency's proper administration and essential governmental programs.