AR SB385

Reappropriates $9,842 in balance from Act 32 of 2016 to the Bureau of Legislative Research for the Vision 2025 Legislative Commission on the future of Higher Education, effective July 1, 2017.

Requires all contracts and obligations comply with actual State Treasury funds available and applicable state fiscal control laws including State Purchasing Law, General Accounting and Budgetary Procedures Law, and Revenue Stabilization Law.

Permits institutions and agencies to supplement State Treasury funds with grants, donations, Federal funds, and unobligated cash income for project financing.

Specifies that funds must be disbursed in compliance with stated reasons documented in budget manuals, agency requests, executive recommendations, and Joint Budget Committee minutes.

Declares an emergency effective July 1, 2017 due to Arkansas Constitution's prohibition on appropriations exceeding one year periods.