AL SB313

Amends Section 41-10-629 of the Code of Alabama 1975 to allow excess funds in the Alabama 21st Century Fund (beyond debt service requirements) to be used by the State Industrial Development Authority for Alabama Energy Infrastructure Bank purposes.

Transfers $50,000,000 from the Alabama 21st Century Fund to the Alabama Energy Infrastructure Bank for fiscal year 2025, with priority given to the Strategic Energy Infrastructure Development Fund.

Transfers $10,000,000 from the Alabama 21st Century Fund to the Alabama Incentives Financing Authority for project and project costs in fiscal year 2025.

Transfers $5,000,000 from the Alabama 21st Century Fund to the Alabama Department of Commerce for establishment of international offices, rural development strategies, and operational and personnel costs in fiscal year 2025.

Effective date: June 1, 2025.