AL HB526

Amends Section 41-10-629 of the Alabama Code to allow excess funds in the Alabama 21st Century Fund (funded by tobacco revenues) to be used for additional purposes beyond debt service on authority bonds.

Permits excess funds to pay for project costs as defined in Section 41-10-541 and debt service on bonds issued by the Alabama Incentives Financing Authority.

Authorizes a one-time transfer of $5,000,000 from the Alabama 21st Century Fund to the Alabama Department of Commerce for fiscal year ending September 30, 2025.

The $5,000,000 transfer to the Department of Commerce is designated for establishment of international offices, enhancement of rural development strategies, and operational and personnel costs.

Becomes effective immediately upon passage; passed by the House with 96 votes in favor, 0 against, and 3 abstentions on April 15, 2025.