AR SB122

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" for promoting minority and women-owned business enterprises.

Establishes maximum revenue allocations of $5,488,378,153 for fiscal year 2018-2019 and thereafter across multiple state funds including public schools, human services, higher education institutions, and government agencies.

Creates the "Restricted Reserve Fund" to hold funds transferred from the Rainy Day Fund and other sources, with transfers to operating funds requiring approval from the Legislative Council, Joint Budget Committee, or General Assembly.

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) for fiscal year 2018-2019 only.

Renames the "Merit Adjustment Fund" to the "Performance Fund" for awarding merit raises and salary adjustments to state employees based on performance evaluations, effective July 1, 2018.