SB363
An Act For The Department Of Finance And Administration - Disbursing Officer Smith Hospital Restoration Appropriation For The 2025-2026 Fiscal Year.
Last Action (May 5, 2025): Died in Senate Committee at Sine Die adjournment.
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AI-Generated Summary
Senate Bill 363 is an appropriation act for the 2025-2026 fiscal year in Arkansas. The bill allocates $500,000 from the state's cash funds to the Department of Finance and Administration - Disbursing Officer. These funds are specifically designated as grants to cover renovation and construction-related costs for the Smith Hospital restoration project. The bill requires strict compliance with state procurement, accounting, and budgetary laws during the disbursement process. Additionally, the act includes an emergency clause, allowing it to become effective on July 1, 2025, to ensure the continuity of funding for these governmental programs.
Potential Impact Analysis
Who Might Benefit?
The primary beneficiaries are the entity or organization responsible for the Smith Hospital restoration project, which will receive the $500,000 grant, as well as the local community that may benefit from the completed renovations and the contractors or construction professionals hired to perform the work.
Who Might Suffer?
The bill does not directly negatively impact specific groups; however, because the funds are allocated from state cash funds, the broader Arkansas taxpayer base technically sees a reduction in available discretionary state resources that could have been allocated to other potential public projects or programs.
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