HB263 Alabama 2011 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Mike Hill
Republican
Co-Sponsor: Mac McCutcheon
Session: Regular Session 2011
Title: Public School and College Authority, bonds authorized by Act 99-348, 1999 Reg. Sess. and Act 2002-240, 2002 Reg. Sess., certain unused proceeds, premium income, and investment income of bonds, expenditure for additional public education purposes and administrative costs authorized
Summary: HB263 would let the Alabama Public School and College Authority use leftover bond proceeds and income from two old bond programs to fund general public education projects and cover administrative costs.
What This Bill Does
The bill lets the Authority use the proceeds, premium income, and investment income from bonds issued under Acts 99-348 and 2002-240 for construction, reconstruction, alteration, improvement, and equipping of general education facilities, and for other purposes for which those bonds were issued. It also authorizes using up to $200,000 to pay administrative costs. The changes expand allowed uses beyond the original targeted projects.

Who It Affects
Alabama Public School and College Authority, which gains broader authority to allocate bond proceeds and related income to general education facilities and other bond purposes
Public schools and colleges in Alabama that could benefit from funded construction, reconstruction, or improvement projects financed by these bond proceeds

Key Provisions
Section 1 allows use of proceeds, premium income, and investment income from Act 99-348 bonds for general public education facilities and other bond purposes
Section 2 allows use of proceeds, premium income, and investment income from Act 2002-240 bonds for general public education facilities and other bond purposes
Section 3 permits up to $200,000 to be expended from these funds to pay administrative costs
Section 4 makes the act effective immediately following passage and governor's approval

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Public School and College Authority