HB295 Summary

• Changes Alabama's state fiscal year from October 1 - September 30 to July 1 - June 30, effective with fiscal year 2020 beginning July 1, 2019.

• Establishes a nine-month implementation fiscal year from October 1, 2019 through June 30, 2020, with 75 percent of appropriations and tax revenue distributions allocated to this period and 25 percent to the first quarter of fiscal year 2021.

• Applies the new fiscal year dates to state government, county governments, city and county boards of education, and municipalities through amendments to multiple sections of the Alabama Code.

• Authorizes the Governor to promulgate procedures necessary to implement the fiscal year change in an orderly manner.

• Directs the Code Commissioner to replace all fiscal year date references in the Code of Alabama 1975 to reflect the new July 1 - June 30 fiscal year period, with the act becoming effective immediately upon passage.