AR SB449

Appropriates $5,000,000 to the Department of Commerce - Arkansas Development Finance Authority for the Arkansas Housing Trust Fund for the fiscal year ending June 30, 2022.

Funds are payable from the Miscellaneous Agencies Fund Account and may be used for grants, loans, loan guarantees, and loan subsidies for eligible activities and applicants.

Disbursement of funds must comply with state procurement law, accounting procedures, revenue stabilization law, salary procedures, and regulations of the Department of Finance and Administration.

Funds must be disbursed in accordance with Agency Requests, Executive Recommendations, and Legislative Recommendations documented in budget manuals and legislative minutes.

Act becomes effective July 1, 2021, declared as emergency legislation necessary for uninterrupted agency operations.