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AL SB10
Bill
AI Summary
SB10 Summary
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The State Superintendent of Education and Chief Executive Officer of the Teachers' Retirement System must dissolve the Foundation for Local Schools on or before September 30, 2014.
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Assets held in the Foundation for Local Schools accounts shall be disbursed pursuant to this act and Section 16-26C-13 of the Code of Alabama 1975.
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Chapter 26C, consisting of Sections 16-26C-1 to 16-26C-13 of Title 16, Code of Alabama 1975, relating to the Foundation for Local Schools is repealed.
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The act becomes effective immediately upon passage and approval by the Governor or upon otherwise becoming law.
Legislative Description
Foundation for Local Schools, dissolved and monies disbursed to local schools and trust accounts, Secs. 16-26C-1 to 16-26C-13 repealed
Foundation for Local Schools
Last Action
Assigned Act No. 2014-372.
4/1/2014