AR SB509

Amends Arkansas Code § 6-5-302 to change how Educational Excellence Trust Fund money is distributed to four-year state-supported higher education institutions

Allocates funds to ten four-year institutions based on previous year's in-state full-time equivalent enrollment as determined by the Department of Higher Education and approved by the General Assembly

Affected institutions include Arkansas State University, Arkansas Tech University, Henderson State University, Southern Arkansas University, University of Arkansas system campuses (Fayetteville, Fort Smith, Little Rock, Monticello, Pine Bluff), and University of Central Arkansas

Defines "in-state" status as enrollment in a four-year state-supported institution of higher education combined with legal residency in Arkansas

Total four-year institutional funding allocation set at $35,421,239 for fiscal year ending June 30, 2003 and thereafter