AL HB612

Authorizes the Alabama Public School and College Authority to issue up to $50,000,000 in bonds to fund entrance security renovations at public K-12 school facilities to minimize unrestricted access by intruders.

Allocates $10,000,000 distributed pro rata to all local boards of education based on 2013-2014 Foundation Program Fund student enrollment, and reserves $40,000,000 for grants allocated by needs assessment prioritizing schools unable to afford security upgrades independently.

Allows funds from the $10,000,000 allocation to be used for surveillance cameras, metal detectors, and other safety equipment if a school district certifies all K-12 facilities already have secure entrances.

Pledges receipts from utility gross receipts tax, utility service use tax, sales tax, and use tax (in that order of priority) to pay principal and interest on bonds, with bonds constituting limited obligations of the authority and not state debt.

Requires Governor approval before each bond series issuance and mandates that contracted attorneys, fiscal advisors, and underwriters reflect the racial and ethnic diversity of the state.