AR SB486

Appropriates $15,000,000 to Arkansas State University from the General Improvement Fund for construction, renovation, maintenance, equipment, personal services, and operating expenses of the university system.

Allows institutions to supplement state funds with grants, donations, federal funds, and unobligated cash income to finance project costs.

Prohibits use of funds appropriated for maintenance and general operations to be diverted to capital improvement purposes.

Requires strict compliance with state purchasing, accounting, budgetary procedures, revenue stabilization, and other fiscal control laws in disbursement of funds.

Becomes effective July 1, 2017 under emergency clause to ensure continuous operation of the university.