HB562 Summary

• Appropriates $41,045,827 from the Children First Trust Fund for fiscal year ending September 30, 2013, distributed to child-related agencies including Department of Human Resources ($8,009,165), Department of Youth Services ($6,807,791), and Juvenile Probation Services ($4,004,583).

• Requires tobacco settlement revenues designated for the Children First Trust Fund to be deposited within 30 calendar days of receipt and provides quarterly allocations to agencies with allocations conditioned on receipt of tobacco revenues.

• Transfers Children First Trust Fund receipts previously allocated to the State Board of Education to the State General Fund during fiscal year 2013.

• Appropriates an additional $45,084,505 from other tobacco settlement funds for fiscal year 2013, including $27,561,207 to Alabama Medicaid Agency and $13,000,000 for 21st Century Debt Service.

• Requires Department of Children's Affairs Commissioner to approve investment plans for each agency including quality assurance metrics and report approved plans to the Joint Interim Legislative Oversight Committee and Alabama Children's Policy Council; allows conditional appropriation of additional tobacco revenues upon recommendation of Finance Director and legislative committee chairs with Governor approval.