AR HB1526

Amends Arkansas Code § 6-19-114 to clarify that school buses purchased with Revolving Loan Fund loans must meet minimum standards and be owned and operated by the purchasing public school district.

Requires school bus purchases to follow a competitive bidding process with bids advertised in newspapers having circulation in the district's county, published once weekly for 2 weeks, with first publication at least 30 days before bid opening.

Allows school districts to apply to the State Board of Education to make bus purchases on their behalf instead of conducting individual competitive bids.

Authorizes the State Board to conduct collective purchases when it receives applications for 10 or more buses from one or more districts within a 60-day period, using statewide newspaper advertising instead of local advertising.

Establishes that school districts are eligible to purchase school buses at a lower interest rate under this section.