The bill amends existing laws related to higher education in Arkansas, specifically focusing on the property and finances of state institutions, the issuance of bonds, and the management of rents, tolls, fees, and other charges associated with athletic contests. Notably, it removes references to Henderson State University from the list of institutions whose boards of trustees have certain powers. The amendments expand the authority of these boards to include acquiring, improving, and equipping various facilities and properties deemed suitable for their respective institutions.

Additionally, the bill introduces new provisions that allow the boards of trustees to issue negotiable interest-bearing notes or bonds based on revenues derived from their operations, excluding tax-derived funds. It also broadens the scope of what the boards can manage regarding athletic contests by allowing them to set fees and enforce rules related to a wider range of facilities and improvements, thereby enhancing their operational flexibility and financial management capabilities.

Statutes affected:
SB 545: 6-62-302(a), 6-62-305(a)