HB1074 Summary

• Appropriates $32,427,356 for the Department of Commerce - Arkansas Development Finance Authority for fiscal year 2020-2021, including regular salaries ($3,735,242), operating expenses, grants for housing rental assistance ($6,600,000), HUD HOME Program ($16,341,215), and federal housing programs ($3,400,000).

• Authorizes a maximum of 64 regular full-time employees across various positions including 1 Executive Director, 6 Deputy Directors, and 9 Program Officers, plus up to 5 temporary or part-time employees.

• Appropriates $2,392,333 for the Student Loan Authority Division and $15,475 for the Arkansas Housing Trust Fund Advisory Committee for fiscal year 2020-2021.

• Appropriates $15,000,000 for computer equipment and related software and $6,000,000 for the Federal Housing Program for fiscal year 2020-2021.

• Requires compliance with state procurement laws, accounting procedures, revenue stabilization laws, and other fiscal control laws in disbursement of funds, effective July 1, 2020.