HB294 Summary

• Appropriates $44,362,974 from the Children First Trust Fund for fiscal year ending September 30, 2011, distributed to 11 entities including Department of Human Resources ($11,082,960), Department of Youth Services ($9,420,516), and Department of Public Health ($5,541,480).

• Requires tobacco settlement revenues designated for the Children First Trust Fund to be deposited within 30 calendar days of receipt and mandates the State Director of Finance provide written notification to agencies of their expected allocations by September 1, 2010.

• Requires quarterly allocation of at least one-fourth of each agency's total appropriated amount when tobacco revenues are available, with allocations made available within five working days of each quarter's commencement.

• Appropriates an additional $50,457,080 from other tobacco settlement funds for fiscal year ending September 30, 2011, with $33,248,880 allocated to Alabama Medicaid Agency, $13,000,000 for 21st Century Debt Service, and remaining amounts to other entities.

• Conditions all allocations on receipt of tobacco revenues and requires each receiving agency to submit an approved plan of investment with minimum four quality assurance metrics, subject to audit by Examiners of Public Accounts and reporting to the Joint Interim Legislative Oversight Committee.