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AL SB167
Bill
Status
2/7/2013
Primary Sponsor
Paul Sanford
Click for details
AI Summary
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Directs proceeds Alabama receives from any Deep Water Horizon oil spill monetary settlement to repay funds previously transferred from the Alabama Trust Fund, General Fund Rainy Day Account, or Education Trust Fund Rainy Day Account to the General Fund or Education Trust Fund.
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Requires 10 percent of remaining settlement proceeds after repayment to be deposited into the Alabama Trust Fund.
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Becomes effective on the first day of the third month following passage and approval by the Governor, or upon otherwise becoming law.
Legislative Description
Alabama Trust Fund, Deep Water Horizon proceeds to be used to repay transfer of fund from the Alabama Trust Fund
Alabama Trust Fund
Last Action
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
2/7/2013