AR SB530

Creates the "91st Session Projects Account" within the General Improvement Fund to finance state construction projects and programs authorized by the 91st General Assembly.

Transfers unobligated and unallocated funds from the General Improvement Fund as of June 30, 2017, plus General Revenue Funds recovered from reserves as of July 2, 2017, and special revenues from estate taxes into the new account.

Requires expenditures from the account to be made only upon documentation that all appropriation criteria and pre-conditions have been met and Methods of Finance have been filed with the Department of Finance and Administration.

Mandates that fund recipients may be required to file compliance audits and are subject to audits by the Arkansas Legislative Audit to ensure proper use of funds.

Becomes effective July 1, 2017 under emergency clause due to enacted appropriations exceeding available funding and the need for orderly financing and priority system for construction projects.