Loading chat...
AL HB177
Bill
Status
2/6/2013
Primary Sponsor
Joseph Hubbard
Click for details
AI Summary
-
Proposes a constitutional amendment requiring repayment with interest of funds transferred from the Alabama Trust Fund to the State General Fund under Amendment 856 within six years following fiscal year ending September 30, 2015.
-
Establishes repayment schedule: $50 million in fiscal years 2017-2018, $100 million in fiscal years 2019-2020, $150 million in fiscal year 2021, and remaining balance in fiscal year 2022.
-
Levies an additional tax of 50 mills per cigarette, with proceeds used to repay the transferred funds.
-
After full repayment, the additional cigarette tax proceeds shall be distributed to the Alabama Medicaid Agency.
-
If full repayment is not completed by fiscal year 2022, any remaining unpaid amount shall be appropriated from the State General Fund.
Legislative Description
Alabama Trust Fund, transfer of amount from, to State General Fund as pursuant to const. amend., increase on cigarettes, proceeds used to repay funds, appropriation, const. amend.
Appropriations
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
2/6/2013