AR HB1128

Appropriates $52,000,000 to the Office of the Treasurer of State from the College Savings Bond Fund for debt service on College Savings and Higher Education General Obligation Bonds for fiscal year 2021-2022, including $20,000,000 for refunds/reimbursements and $32,000,000 for debt service.

Appropriates $68,000,000 to the Office of the Treasurer of State from the Water, Waste Disposal and Pollution Abatement Facilities Bond Fund for debt service on water and pollution abatement bonds for fiscal year 2021-2022, including $40,000,000 for refunds/reimbursements and $28,000,000 for debt service.

Authorizes the State Treasurer to transfer funds from Refunds/Reimbursement line items to Debt Service line items if appropriations are insufficient to pay maturing bonds and interest.

Requires all disbursements to comply with state procurement laws, accounting procedures, revenue stabilization laws, and fiscal control regulations established by the Department of Finance and Administration.

Declares an emergency, making the act effective July 1, 2021, as required by the Arkansas Constitution which prohibits appropriations for more than one year.