SB245 Alabama 2012 Session

Updated Jul 25, 2021

Summary

Primary Sponsor: Arthur OrrSenator
Republican
Co-Sponsor: Bill Holtzclaw
Session: Regular Session 2012
Title: Public School and College Authorities, change baseline date, increase average salary, allow schools affected by closure of bases to receive proceeds from the authority, Secs. 16-16A-2, 16-16A-7, 16-16A-8 am'd
Description: Under existing law, the Alabama Public School and College Authority is authorized to sell and issue bonds and apply the proceeds for the construction of new school facilities as well as the renovation of existing school facilities in school systems directly impacted by the 2005 Base Realignment and Closure.
This bill would change the baseline date to January 1, 2006.
This bill would provide that the average salary or equivalent wage can be attributed to 2005 BRAC that is equal to or exceeding $80,000.
This bill would remove the provision that a school district may not receive the proceeds of the bonds issued by the Public School and College Authority unless the district or political subdivision has experienced an increase in the sales tax rate.
This bill would remove the provision that in order to qualify for bond proceeds, a local school system may redirect an existing tax not currently dedicated to schools to qualify for bonds.
Subjects: Economic Development

Finance and Taxation Education first Amendment Offered

Indefinitely Postponed

Read for the second time and placed on the calendar 1 amendment

Read for the first time and referred to the Senate committee on Finance and Taxation Education