Trent Garner voted Yea (Passage) on this Legislation.
Title: Establishes a COVID-19 Emergency Fund
Signed by Governor Asa Hutchinson
Title: Establishes a COVID-19 Emergency Fund
Title: Establishes a COVID-19 Emergency Fund
Vote to pass a bill that establishes a COVID-19 emergency fund.
Specifies that the COVID-19 Rainy Day Fund will include the following (Sec 1):
Funds transferred from the General Revenue Allotment Reserve Fund;
Any revenues provided by law; and
Any fund or fund account transfers provided by law.
Specifies that the Chief Fiscal Officer of the State can use the funds authorized by the General Assembly to offset the unanticipated needs of the COVID-19 crisis (Sec 1).
Specifies that the release of the funds will require approval from the following individuals or their designee (Sec 1):
The Speak of the House of Representatives;
The Majority party leader of the House of Representatives;
The Minority party leader of the House of Representatives;
The President Pro Tempore of the Senate;
The Majority party leader of the Senate; and
The Minority party leader of the Senate.
Requires the Chief Fiscal Officer to transfer $173.6 million from the General Revenue Allotment Reserve Fund to the COVID-19 Rainy Day Fund on the effective date of this act (Sec 2).
Requires the Chief Fiscal Officer to transfer any remaining funds from the COVID-19 Rainy Day Fund to the General Revenue Allotment Reserve Fund on June 30, 2020 (Sec 2).
Authorizes a state of emergency in the state of Arkansas (Sec 3).
Title: Establishes a COVID-19 Emergency Fund