AL SB118

Creates the State Treasury Operations Fund as a special fund in the state treasury to consolidate funding for the Office of the State Treasurer, Unclaimed Property administration, and the SAFE Program.

Fund receives general fund appropriations, amounts from the Unclaimed Property Reserve Fund, and other receipts, with unobligated balances carried forward annually.

Transfers administrative costs and expenses from the Unclaimed Property Reserve Fund quarterly to the State Treasury Operations Fund for treasury office operations.

Any unobligated amounts in the Unclaimed Property Administrative Fund and SAFE Program Administration Fund remaining after September 30, 2014, shall be transferred to the State Treasury Operations Fund.

Becomes effective October 1, 2014, upon passage and approval by the Governor or upon becoming law.