SB414 Summary

• Adopts the "Compact for a Balanced Budget" requiring Alabama to apply to Congress for an Article V constitutional convention limited to proposing a balanced budget amendment requiring total federal government outlays not exceed total receipts unless financed by debt.

• Establishes a Compact Commission with three unpaid members (one from each member state) to oversee convention logistics, encourage state participation, and coordinate compact enforcement through a Compact Administrator.

• Specifies that each member state sends three delegates (the Speaker of the House, Governor, and one delegate jointly appointed by minority leaders) with voting power determined by majority vote of the delegation.

• Prohibits convention from considering any amendments other than the Balanced Budget Amendment and requires the proposed amendment be transmitted to Congress for ratification by three-fourths of state legislatures.

• Terminates the compact if the balanced budget amendment is not ratified within 7 years, with Alabama's application to Congress surviving termination as a continuing resolution capable of being aggregated with similar applications from other states.