AR SB120

Appropriates $450,000 in supplemental funding to the Arkansas Economic Development Commission for fiscal year 2017-2018, payable from the Arkansas Economic Development Commission Fund Account.

Allocates $150,000 for maintenance and general operations (operating expenses only) and $300,000 for Global Business Initiatives.

Funds are supplemental and in addition to appropriations made in Section 5 of Act 1048 of 2017.

Requires disbursement to comply with State Procurement Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, Regular Salary Procedures and Restrictions Act, and Department of Finance and Administration regulations.

Declares an emergency due to unforeseen circumstances making existing funds insufficient for the Commission to provide essential governmental services; bill became effective upon approval on March 2, 2018.