HB215 Alabama 2012 Session

Summary

Primary Sponsor

Joe Hubbard

Democrat

Session

Regular Session 2012

Title

Small Business and Job Creation Fund, established, funded with annual transfer from Alabama Trust Fund for three years, exceptions, administration of fund by Alabama Development Office, const. amend.

Description

This bill would propose an amendment to the Constitution of Alabama of 1901, to create a Small Business and Job Creation Fund for the purpose of providing a statewide availability of funds for lending purposes to businesses forming new business entities. This bill would provide for the transfer of $50 million each year for three years from the Alabama Trust Fund to the Small Business and Job Creation Fund and would provide for administration of small business loans from the fund by the Alabama Development Office. This bill would also provide for further implementation and administration of loans from the Small Business and Job Creation Fund upon further act of the Legislature.

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Subjects

Constitutional Amendments