HB1039

House Bill 1039 is a fiscal appropriation act for the state of Arkansas for the fiscal year ending June 30, 2025. It authorizes the Office of the Treasurer of State to provide funding for the payment of maturing bonds and interest for specific general obligation bonds. Specifically, the bill appropriates $42 million for College Savings and Higher Education bonds and $43 million for Water, Waste Disposal, and Pollution Abatement bonds. The bill includes provisions for the transfer of funds between line items for refunds/reimbursements and debt service if the initial appropriations are insufficient. It also mandates strict compliance with state fiscal control laws and procurement regulations. Finally, the act includes an emergency clause to ensure it takes effect on July 1, 2024, to maintain the state's credit obligations and essential governmental functions.