AR HB1039

Appropriates $42,000,000 to the Office of the Treasurer of State from the College Savings Bond Fund for debt service on College Savings General Obligation Bonds and Higher Education General Obligation Bonds for fiscal year 2024-2025, including $10,000,000 for refunds/reimbursements and $32,000,000 for debt service.

Appropriates $43,000,000 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 2024-2025, including $15,000,000 for refunds/reimbursements and $28,000,000 for debt service.

Authorizes the State Treasurer to transfer funds from the Refunds/Reimbursements line item to the Debt Service line item if appropriations for maturing bonds and interest are determined insufficient, effective July 1, 2024 through June 30, 2025.

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

Declares an emergency clause establishing July 1, 2024 as the effective date, as required by Arkansas Constitution for one-year appropriations.