AR SB578

Transfers unobligated funds from multiple sources (Acts 225 and 1058 of prior years, Development and Enhancement Fund, General Revenue Allotment Reserve Fund, and estate taxes) to the Restricted Reserve Fund upon the effective date of the act.

Establishes 27 named set-asides totaling $1,152,227,257 from the Restricted Reserve Fund for specific purposes including education facilities ($250M), corrections ($330M), crime lab ($200M), and infrastructure matching funds ($200M).

Creates a second tier of 9 set-asides totaling $380,643,588 for education facilities, UAMS cancer research, educational adequacy, teacher scholarships, and economic development district grants.

Requires Legislative Council or Joint Budget Committee approval (during session) before transferring funds from the Restricted Reserve Fund, with nonseverability provisions making related statutes void if this approval requirement is deemed unconstitutional.

Effective July 1, 2023, with emergency clause provisions, except that four specific set-asides (infrastructure matching, historic rehabilitation, UAMS hospital expansion, and law enforcement stipends) take effect immediately upon passage and approval.