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AL HB6
Bill
Status
2/5/2013
Primary Sponsor
Jay Love
Click for details
AI Summary
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Requires the Alabama Legislature to repay all amounts transferred from the Alabama Trust Fund to the State General Fund within 10 years following the fiscal year ending September 30, 2015.
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Authorizes transfers of $145,796,943 annually from the Alabama Trust Fund to the State General Fund for three fiscal years (FY 2013-2015) under a constitutional amendment that does not require repayment.
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Mandates an appropriation from the State General Fund in fiscal year 2026 for any remaining balance not repaid by September 30, 2025.
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Becomes effective immediately upon passage and approval by the Governor.
Legislative Description
Alabama Trust Fund, transfer of funds to State General Fund pursuant to const. amend., repayment required within certain timeframe, appropriation, People's Trust Act
Appropriations
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund
2/5/2013