HB127 Summary

• Extends the termination date of Alabama's excise and privilege tax on coal from October 1, 2011 to October 1, 2016, unless extended by the Legislature.

• Modifies distribution of coal tax proceeds to the Alabama State Docks Bulk Handling Facility Trust Fund, directing funds to the Alabama Mining Academy, Tuscaloosa County, Jefferson County, and Walker County.

• Changes Tuscaloosa County allocation from $500,000 to $594,000 and redistributes specific amounts to Towns of Vance, Brookwood, Coaling, and Lake View, plus Tuscaloosa County Public Library and Board of Education.

• Beginning with fiscal year 2011-2012, allocates funds to various community development organizations in northwestern Alabama counties including Marion, Jackson, Winston, Cullman, and Blount counties.

• Requires annual audits by the Examiners of Public Accounts for all foundations and associations receiving funds under this act, with audit reports submitted to the Legislature.