§ 19-5-506 - Financial aid programs. - Arkansas Statutes

19-5-506. Financial aid programs.

In order to provide timely payments under financial aid appropriations, the Chief Fiscal Officer of the State is authorized to provide loans from the Budget Stabilization Trust Fund to make available all funds attributable to the financial aid programs under the then current official revenue estimates. In the event of an unanticipated state revenue shortfall, any such loans remaining at the end of a fiscal year shall be repaid from revenues distributed in the first two (2) months of the next fiscal year. Funds for appropriations for purposes other than financial aid shall not be affected by the application of this provision.