HB94 Summary: The People's Trust Act

• Requires the Legislature to repay all funds transferred from the Alabama Trust Fund to the State General Fund under Amendment 856 by September 30, 2026.

• Establishes minimum cumulative repayment amounts for each fiscal year from 2014 through 2026, starting at $5,000,000 in 2014 and totaling $437,390,829 by 2026.

• Mandates the Legislative Fiscal Office report cumulative repayment amounts to legislative leadership beginning in 2015 and annually thereafter.

• Requires automatic appropriation from the General Fund to cover any shortfall if the Legislature fails to appropriate sufficient funds to meet the annual minimum repayment threshold.

• Specifies that any required appropriation under the act cannot be reduced through budget proration and takes effect immediately upon passage.