AR HB1137

Amends Arkansas Code § 19-5-1240 to rename the "Minority Business Loan Mobilization Revolving Fund" to the "Minority and Women-Owned Business Loan Mobilization Revolving Fund" to promote development of minority and women-owned business enterprises.

Establishes maximum revenue allocations totaling $5,488,378,153 for fiscal year 2018-2019 and thereafter, distributed monthly among various state funds including public schools ($2,194,540,549), higher education ($738,368,502), and human services ($1,615,669,301).

Creates the "Restricted Reserve Fund" for emergency transfers to state agencies, boards, and constitutional officers upon approval by the Legislative Council or Joint Budget Committee with detailed written justification.

Renames the "Merit Adjustment Fund" to the "Performance Fund" for distributing salary adjustments and merit raises to state employees based on performance evaluations.

Directs 75% of remaining general revenues to the Restricted Reserve Fund (capped at $47,974,039) and 25% to the Arkansas Highway Transfer Fund (capped at $15,991,346) beginning July 1, 2018 through June 30, 2019.