AL SB451

Authorizes the Comptroller to transmit Penny Trust Fund proceeds annually to the Department of Public Health for the Alabama Drug Assistance Program and similar programs upon application by the State Health Officer, divided 50% for infant mortality/child health programs and 50% for indigent health care.

Authorizes the Comptroller to transmit Penny Trust Fund monies annually to the State Board of Education upon application by the State Superintendent of Education for disease prevention programs in public schools, with funds distributed to school systems with approved grant applications.

Defines "earnings" as 90 percent of the prior fiscal year's earnings of the Penny Trust Fund and appropriates accumulated earnings from fiscal year 2012 forward sufficient to fund all board-approved applications and proposals.

Establishes the Board of Control of the Penny Trust Fund consisting of the Governor, State Treasurer, State Health Officer, State Superintendent of Education, and State Auditor, with duties including reviewing proposals, approving an investment policy, and notifying education and health officials of eligible fund amounts.

Becomes effective January 1, 2014.