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AL SB13
Bill
Status
2/5/2013
Primary Sponsor
Bryan Taylor
Click for details
AI Summary
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Requires the Legislature to repay all funds transferred from the Alabama Trust Fund to the State General Fund pursuant to a Constitutional amendment within 10 years following the fiscal year ending September 30, 2015.
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The Constitutional amendment authorized $145,796,943 to be transferred annually from the Alabama Trust Fund to the State General Fund for three fiscal years (fiscal years ending September 30, 2013 through 2015) without requiring repayment.
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Mandates an appropriation from the State General Fund in fiscal year ending September 30, 2026 for any amounts 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
Pending third reading on day 4 Favorable from Finance and Taxation General Fund with 1 substitute
5/7/2013