SB580 Alabama 2012 Session

Summary

Primary Sponsor

Tammy Irons

Democrat

Co-Sponsors

William “Bill” M. BeasleyQuinton RossRoger Bedford, Jr.Linda Coleman-MadisonGeorge M. “Marc” KeaheyVivian Davis FiguresJerry L. Fielding

Session

Regular Session 2012

Title

Education Trust Fund (ETF), transfer of certain funds to State General Fund and to provide for repayment to the ETF, Sec. 29-9-2, 29-9-3 am'd

Summary

SB580 would let Alabama divert some Education Trust Fund revenues to the State General Fund as an 'in lieu of' payment, rather than fully repaying the ETF Rainy Day Account, and create new transfer rules for excess ETF revenues.

What This Bill Does

It creates an 'in lieu of payment' mechanism: when the ETF's revenues exceed amounts appropriated for repayment, those excess funds can go to the State General Fund instead of the ETF Rainy Day Account. It authorizes restoration to the Education Trust Fund up to the Act 2007-361 appropriation level, and adds a new section allowing transfers of excess ETF revenues to the General Fund, with specified priority for Gulf oil spill-related funds. It revises how the fiscal year appropriation cap is calculated and defines terms related to revenues and transfers to guide future transfers.

Who It Affects

• Education Trust Fund and its Rainy Day/ Stabilization accounts, by allowing reductions in repayments and possible restoration of funds as described.
• State General Fund, which would receive transfers of excess ETF revenues when the in lieu of payments occur, and would be impacted by Gulf oil spill funds priority.

Key Provisions

• Allows in lieu of payment to General Fund when ETF revenues exceed the amount appropriated for repayment to the ETF Rainy Day Account under Act 2007-361.
• Permits restoration to the ETF up to the Act 2007-361 appropriation level.
• Adds Section 29-9-4.1 authorizing transfers of excess ETF revenues to the General Fund, with Gulf oil spill litigation funds prioritized for General Fund use.
• Amends definitions and calculations related to the fiscal year appropriation cap to reflect new transfer options and revenue classifications.

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 Trust Fund