HB485 Summary

• Authorizes the State Comptroller to transmit Penny Trust Fund proceeds annually to the Department of Public Health and State Board of Education upon application by the State Health Officer and State Superintendent of Education respectively.

• Appropriates accumulated earnings from the Penny Trust Fund (beginning fiscal year 2012 forward) to fund all board-approved applications and proposals for public health and education programs.

• Defines "earnings" as 90 percent of the prior fiscal year's earnings of the Penny Trust Fund.

• Expands the Board of Control membership to include two new appointed positions: one member from Alabama's historically black colleges and universities and one member from a non-profit health-related agency, both serving terms concurrent with the appointing Governor's term.

• Effective date changed from January 1, 2013 to January 1, 2014.