AR SB405

Reappropriates up to $10,000,000 in remaining balance from Act 8 of 2016 to the Arkansas Public Employees Retirement System for development, acquisition, and implementation of a new APERS Pension Administration System.

Appropriated funds may be used for operational expenses, capital outlay, and professional fees and services related to the pension administration system project.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other fiscal control laws in disbursement of funds.

Permits the agency to supplement state funds with grants, donations, Federal funds, and unobligated cash income, provided Maintenance and General Operations funds are not used for appropriated purposes.

Effective July 1, 2017, with emergency clause declaring the act necessary for immediate operation of the agency.