SB331 Summary

• Amends Alabama Code Sections 29-9-2, 29-9-3, 29-9-4, and 29-9-6 relating to the Education Trust Fund Rolling Reserve Act to clarify calculation practices and improve cash flow management.

• Changes the transfer date for excess Education Trust Fund revenues from November 15 to May 31 of each fiscal year, allowing better cash flow timing for educational funding.

• Clarifies that funds temporarily transferred from the Budget Stabilization Fund to the Education Trust Fund must be repaid by September 30 of the fiscal year in which the transfer was made, replacing the previous 90-day repayment requirement.

• Modifies appropriation conditions for the Education Trust Fund Advancement and Technology Fund by changing the threshold from "equals or exceeds" to "is less than" ten million dollars before funds may be appropriated.

• Deletes obsolete provisions and updates references to replace "Director of the Fiscal Office" with "Legislative Fiscal Officer" throughout the relevant code sections.