HB174 Summary

• Appropriates $2,787,667,309 in supplemental funding from the Education Trust Fund for fiscal year ending September 30, 2023.

• Allocates $966,728,000 to the Department of Revenue for income tax rebates and $18,552,126 for debt service on PSCA Bonds Series 2012-B and 2013-C.

• Distributes $604,000,000 to the State Department of Education for one-time expenses including $360,000,000 for school system capital projects, $150,000,000 for rural school systems, and $25,000,000 for the Saban Discovery Center STEAM education facility.

• Provides funding to multiple universities totaling hundreds of millions for deferred maintenance, capital projects, research initiatives, and specific facilities including a Center for High Performance Computing at University of Alabama and Hospital Emergency Department expansion at UAB.

• Directs $164,500,000 to Department of Commerce for economic development projects including workforce training centers, airport operations relocation, port equipment, and creation of an Alabama Site Development Fund.