Loading chat...
AL HB420
Bill
Status
5/26/2015
Primary Sponsor
Mike Jones
Click for details
AI Summary
-
Amends Alabama Code Sections 14-2-12 and 14-2-19 to authorize the Alabama Corrections Institute Finance Authority to issue up to $60 million in additional bonds for any correctional facilities, rather than limiting bond issuance to Perry County facilities only.
-
Allows bond proceeds to be used for acquiring land, constructing, reconstructing, and improving any correctional facilities owned by the Department of Corrections or the authority.
-
Requires the authority to provide up to $1 million to the Perry County Commission to compensate for future loss of tax revenue related to the Perry County facility.
-
Mandates that bonds be sold by competitive bid when practical and economically feasible, and encourages the authority to utilize businesses and companies that reflect the racial and ethnic diversity of Alabama.
-
Becomes effective immediately upon passage and approval by the Governor.
Legislative Description
Corrections Institute Finance Authority, authorized to issue additional bonds, Secs. 14-2-12, 14-2-19 am'd.
Corrections Department
Last Action
Forwarded to Governor on May 26, 2015 at 4:34 p.m. on May 26, 2015.
5/26/2015