SB636

Senate Bill 636 is an act that authorizes the transfer of funds into the Arkansas Restricted Reserve Fund and delineates the availability of those funds for various state departments, agencies, and institutions. The bill establishes specific 'set-asides' within the Restricted Reserve Fund to support initiatives such as Medicaid sustainability, children's educational freedom accounts, educational facilities, teacher scholarships, economic development stimulus, and state infrastructure projects. It mandates that these transfers require approval by the Legislative Council or the Joint Budget Committee. The legislation also outlines specific fiscal procedures for the State Treasurer and Chief Fiscal Officer regarding the movement of unobligated funds from various state accounts into the Restricted Reserve Fund. Additionally, it sets a schedule for the transfer of funds to the Water and Sewer Treatment Facilities Grant Program through 2027. The act declares an emergency, meaning it would take effect immediately upon passage and approval.