AL HB431

Creates the Distressed Institutions of Higher Education Revolving Loan Program administered by the State Treasurer to provide loans to eligible higher education institutions experiencing financial hardship.

Defines eligible institutions as public or private colleges/universities in Alabama operating for more than 50 years with significant community impact, experiencing financial hardship that could lead to closure, with governing body approval and sufficient pledgeable assets.

Authorizes the State Treasurer to establish loan terms including interest rates, disbursement timing, repayment schedules, and collateral requirements, and requires written contracts with borrowers; breach makes recipients immediately liable for unpaid balance.

Establishes the Distressed Institutions of Higher Education Loan Program Fund in the State Treasury to receive legislative appropriations and loan repayment proceeds, with unused funds rolling over annually without reversion.

Requires annual reporting to the Governor, Legislature, and relevant committees on all loans issued and repayment status, and authorizes the Attorney General to pursue debt collection in Montgomery County courts upon State Treasurer request.