AR SB248

Removes the reference to "2009" from the Arkansas Governor's Strategic Plan for Economic Development in the legislative findings of the Arkansas Acceleration Fund Act.

Changes the Arkansas Research Alliance's role from "advisory capacity" to providing "advice and recommendations" to the Governor, General Assembly, Arkansas Economic Development Commission, and other agencies.

Expands the Arkansas Research Alliance board's authority to make recommendations regarding fund allocation and reallocation for multiple programs including the Innovate Arkansas Fund, Arkansas Risk Capital Matching Fund Act of 2007, supplemental STEM grants, and the Arkansas Technical Careers Student Loan Forgiveness Program.

Authorizes the Chief Executive Officer of the Arkansas Research Alliance to solicit input and advice from any group or individual, including Accelerate Arkansas, Innovate Arkansas, and Connect Arkansas, concerning policy or funding decisions.

Repeals Arkansas Code § 15-3-505, which previously required the Division of Science and Technology to ensure the Arkansas Research Alliance make annual recommendations on funding allocation and priorities.