SB521 Alabama 2012 Session

Summary

Primary Sponsor

Gerald O. Dial

Republican

Session

Regular Session 2012

Title

Education Trust Fund, Rainy Day Account within Alabama Trust Fund, repealed, prior withdrawals not replenished, Amendment 803 (Section 260.02, Recompiled Constitution of Alabama of 1901, as amended), repealed

Summary

SB521 would repeal the Education Trust Fund Rainy Day Account in the Alabama Trust Fund and stop replenishing any past withdrawals.

What This Bill Does

It proposes amending the Constitution to repeal the Education Trust Fund Rainy Day Account within the Alabama Trust Fund and to state that prior withdrawals from that account would not be replenished. This would remove the rainy-day cushion specifically for the Education Trust Fund and eliminate the replenishment mechanism. The change would be approved or rejected by voters in a statewide election.

Who It Affects

• Education budget managers and the Education Trust Fund, who would lose the rainy-day cushion and replenishment rules.
• County and Municipal Governments that could receive a 25% transfer from Rainy Day Account withdrawals, which would no longer occur if the accounts are repealed.

Key Provisions

• Repeals the Education Trust Fund Rainy Day Account within the Alabama Trust Fund and states that prior withdrawals from the Account shall not be replenished.
• Repeals Amendment 803 (Section 260.02) related to the Education Trust Fund Rainy Day Account and defines related terms; requires voter approval in a statewide election.
• Terminology and changes to how the Rainy Day Accounts would operate are removed; no replenishment mechanism remains if the amendment is ratified.

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

Subjects

Education