AR HB1041

Appropriates $6,980,696 from the Arkansas Rice Research and Promotion Fund for operating and research/development expenses for fiscal year 2018-2019, including $14,200 for operational expenses and $6,966,496 for research and development.

Appropriates an additional $15,000,000 from cash funds for rice research and development under the tariff rate quota program for fiscal year 2018-2019.

Requires all fund disbursements to comply with state procurement law, accounting procedures, revenue stabilization law, salary restrictions, and Department of Finance and Administration regulations.

Establishes legislative intent that funds be used in accordance with agency requests, executive recommendations, and budget documentation reviewed by the Arkansas Legislative Council and Joint Budget Committee.

Effective date is July 1, 2018; bill was approved February 21, 2018.