HB 1057 Summary

• Appropriates $6,980,696 from the Arkansas Rice Research and Promotion Fund for the fiscal year ending June 30, 2024, including $14,200 for operating expenses and $6,966,496 for research and development.

• Appropriates an additional $15,000,000 from cash funds as defined by Arkansas Code 19-4-801 for rice research and development during the same fiscal year.

• Requires all fund disbursements to comply with state procurement law, budgetary procedures law, revenue stabilization law, and regulations of the Department of Finance and Administration.

• Declares an emergency effective July 1, 2023, to ensure immediate operation of the Arkansas Rice Research and Promotion Board without delay.