HB57 Alabama 2011 Session

Summary

Primary Sponsor

Jeremy Oden Public Service Commission President

Republican

Co-Sponsors

William RobertsDan WilliamsPaul W. LeeBarry MooreEd HenryMike HubbardWes LongRichard BaughnKurt WallaceDonnie ChesteenJohn MerrillKen JohnsonTerri CollinsKerry RichMary Sue McClurkinGregory CanfieldJay LoveVictor GastonJack WilliamsJim McClendonSteve ClouseDuwayne BridgesHoward SanderfordPhil WilliamsGreg WrenAllen TreadawayRon JohnsonJim Patterson

Session

Regular Session 2011

Title

Education Trust Fund, appropriations in education budget act capped, Budget Stabilization Fund, Capital Fund, established, transfer of certain funds to Education Trust Fund Rainy Day Account, transfer of funds from Budget Stabilization Fund under certain conditions, Education Trust Fund Rolling Reserve Act, Sec. 40-1-32.1 repealed

Description

Under current law, there is no maximum amount that may be appropriated annually from the Education Trust Fund. Appropriations are based on estimates of the amount of revenue that will be available from all revenue sources to the Education Trust Fund.

This bill provides for the maximum amount that may be appropriated annually from the Education Trust Fund; and provides for the establishment and operation of a budget stabilization fund and a capital fund for the Education Trust Fund.

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Subjects

Education Trust Fund