HB1060

House Bill 1060 is an appropriation act for the Office of the Treasurer of State for the 2023-2024 fiscal year. Its primary purpose is to authorize funds for the payment of maturing bonds and interest associated with College Savings, Higher Education, and Water, Waste Disposal, and Pollution Abatement general obligation bonds. The bill appropriates $42,000,000 for college savings and higher education bonds, and $43,000,000 for water, waste disposal, and pollution abatement bonds. It includes provisions for transferring appropriations between line items if debt service requirements exceed current allocations. Furthermore, the bill mandates strict compliance with Arkansas fiscal control laws and procurement procedures. It also contains an emergency clause, enabling the act to take effect on July 1, 2023, to ensure continuous funding of these state obligations.