Loading chat...

AL HB138

Bill

Official Source

Status

Passed

4/15/2024

Primary Sponsor

Rex Reynolds

Click for details

Origin

House of Representatives

Regular Session 2024

AI Summary

  • Appropriates $97,943,015 in federal funds from the American Rescue Plan Act - State Small Business Credit Initiative Fund to the Department of Finance for fiscal year ending September 30, 2024.

  • Authorizes the Department of Finance to delegate funds through memoranda of agreement to the Alabama Innovation Corporation or other designated entities.

  • Automatically reappropriates any unexpended funds on September 30, 2024, for the same purposes in subsequent fiscal years.

  • Requires delegates and subrecipients to provide all information requested by the Department of Finance in a complete and timely manner to ensure compliance with American Rescue Plan Act requirements.

  • Becomes effective immediately upon passage and approval by the Governor.

Legislative Description

Supplemental appropriation of federal funds from the American Rescue Plan Act - State Small Business Credit Initiative Fund to the Department of Finance for the fiscal year ending September 30, 2024.

Appropriations

Last Action

Enacted

4/15/2024

Committee Referrals

Finance and Taxation General Fund3/6/2024
Ways and Means General Fund2/7/2024

Full Bill Text

No bill text available