AR SB416

Appropriates $30,000,000 from the Development and Enhancement Fund to the Department of Higher Education for maintenance, renovation, equipping, construction, acquisition, improvement, upgrade, and repair of real property and facilities at all public four-year institutions, two-year institutions, and technical colleges.

Prohibits contracts and obligations exceeding available State Treasury funds, but permits institutions to supplement appropriated funds with grants, donations, Federal funds, and unobligated cash income.

Requires strict compliance with State Purchasing Law, General Accounting and Budgetary Procedures Law, Revenue Stabilization Law, and other applicable fiscal control laws in disbursement of funds.

Specifies that funds must be disbursed in compliance with stated reasons for the appropriation as documented in budget manuals, letters, and official minutes of the Arkansas Legislative Council or Joint Budget Committee.

Declares an emergency effective July 1, 2019, necessary for continued operation of higher education institutions, with the appropriation limited to one fiscal year per Arkansas Constitution.