AL HB192

Amends Section 16-54-17, Code of Alabama 1975, to clarify that proceeds from sales or leases of nonfederally granted lands by the University of Montevallo shall be paid to the University of Montevallo Endowment Fund.

Authorizes the board of trustees to budget and expend proceeds from nonfederally granted land sales for the benefit of the university, subject to any federal restrictions.

Requires the university to pay all expenses of caring for, protecting, and selling lands from state Legislature appropriations designated for university maintenance.

Becomes effective 90 days following passage and gubernatorial approval, or upon otherwise becoming law.