AR HB1051

Appropriates $52,000,000 to the Office of the Treasurer of State from the College Savings Bond Fund for fiscal year 2020-2021, consisting of $20,000,000 for refunds/reimbursements and $32,000,000 for debt service on College Savings and Higher Education General Obligation Bonds.

Appropriates $68,000,000 from the Water, Waste Disposal and Pollution Abatement Facilities Bond Fund for fiscal year 2020-2021, consisting of $40,000,000 for refunds/reimbursements and $28,000,000 for debt service on water and pollution abatement bonds.

Authorizes the State Treasurer to transfer funds from the Refunds/Reimbursement line item to the Debt Service line item if appropriations for maturing bonds and interest payments are insufficient, effective July 1, 2020 through June 30, 2021.

Requires all fund disbursements to comply with Arkansas state procurement law, accounting procedures, revenue stabilization law, and other applicable fiscal control laws and regulations.

Declares an emergency clause making the Act effective immediately on July 1, 2020 to ensure uninterrupted operation of essential governmental programs.