SB78 Alabama 2011 Session

Updated Feb 27, 2026

Notable

Summary

Primary Sponsor: Del Marsh
Republican
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: The bill lets the Alabama Public School and College Authority use extra bond proceeds and investment income to fund additional public education projects and to pay administrative costs.
What This Bill Does
If passed, the Authority can use unused bond proceeds, premium income, and investment income from bonds issued under Act 99-348 (1999) and Act 2002-240 (2002) to pay for construction, renovation, improvement, and equipping of public education buildings and facilities, as well as other bond purposes. It also allows up to $200,000 to be spent on administrative costs from these funds. The act becomes effective immediately after governor approval.

Who It Affects
The Alabama Public School and College Authority, which gains expanded authority to use bond-related proceeds for construction and other education-related purposes and to cover admin costs
Public education entities and facilities in Alabama that may benefit from improved buildings and infrastructure funded by these bond proceeds

Key Provisions
Section 1 authorizes the use of proceeds, premium income, and investment income from bonds issued under Act 99-348 for general public education purposes and other bond purposes, including construction and improvement of facilities
Section 2 authorizes the use of proceeds, premium income, and investment income from bonds issued under Act 2002-240 for the same purposes as Section 1
Section 3 allows up to $200,000 to be spent from these funds to pay administrative costs
Section 4 states the act becomes effective immediately upon governor's approval

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Public School and College Authority