AR SB11

Creates a Highway Commission Review and Advisory Subcommittee of the Legislative Council with 20 members (at least 4 from each congressional district) to review State Highway Commission proposed rules regarding fund distribution and spending priorities.

Establishes the Arkansas Highway Transfer Fund to provide additional funding to the State Highway and Transportation Department for highway construction and maintenance, with transfers requiring Legislative Council or Joint Budget Committee approval.

Redirects 25% of remaining general revenues (previously going to General Revenue Allotment Reserve Fund) to the Arkansas Highway Transfer Fund, along with a one-time transfer of $40 million from the Rainy Day Set-Aside and subsequent annual transfers of $20 million beginning in Fiscal Year 2018.

Renames the "Arkansas Rainy Day Fund" to "Long Term Reserve Fund" and modifies Securities Reserve Fund distributions to support highway funding while maintaining other fund allocations for education and property tax relief.

Declares an emergency effective July 1, 2016, due to critical need for Arkansas bridge and road repair and maintenance, with most provisions taking effect immediately and others effective July 1, 2017.