HB102 Alabama 2013 Session

Summary

Primary Sponsor

Mac Buttram

Republican

Session

Regular Session 2013

Title

Twenty-First Century Workforce Act, Public School and College Authority, issuance of bonds for public schools and colleges, proceeds used for career and technical education equipment, workforce fund and committee created

Summary

HB102 creates a financing program through the Public School and College Authority to fund career and technical education equipment for Alabama schools by issuing up to $50 million in bonds and directing a new 21st Century Workforce Fund and grant committee.

What This Bill Does

The act authorizes the sale of up to $50 million in bonds to fund equipment for career and technical education in local schools. It creates the 21st Century Workforce Fund with $20 million from the bonds and a Grant Committee to reimburse CTE programs for equipment purchases based on local needs and regional workforce data. The bonds are limited obligations payable from designated state tax receipts and are exempt from state and federal taxes; they are not general state debt. It establishes procedures for grant distributions, oversight, and reporting, and allows refunding bonds if beneficial.

Who It Affects

• Local boards of education and their career and technical education programs and students, who would receive funding to buy equipment that aligns with industry standards based on unit and student counts.
• State agencies and officials (Grant Committee, Department of Education, Governor, Secretary of Commerce, State Treasurer) and industry partners who oversee, administer, and potentially collaborate on the grants and bond proceeds.

Key Provisions

• Authorizes the Public School and College Authority to issue up to $50,000,000 in bonds to fund career and technical education equipment for local boards of education.
• Bonds are limited obligations payable from pledged tax receipts and do not constitute a debt of the State of Alabama; they are exempt from Alabama usury laws and from state and federal taxes.
• Distributes bond proceeds as follows: $10,000,000 to each local board pro rata by CTE units, $20,000,000 pro rata by CTE student counts, and $20,000,000 to the 21st Century Workforce Fund.
• Creates the 21st Century Workforce Fund and a Grant Committee to allocate funds for equipment purchases, basing decisions on needs assessments, regional workforce data, and the Accelerate Alabama Plan; requires quarterly meetings and public openness.
• Sets the committee composition (State Superintendent of Education as chair, Secretary of Commerce as vice-chair, and other education and industry leaders) and requires reporting of distributions within 10 days to the Governor, Lt. Governor, and legislative leaders.
• Allows refunding bonds and outlines conditions for refunding, including debt service protections and investment constraints; establishes a sinking fund and ensures bond proceeds are used to pay debt service.
• Provides for investment and administration of bond proceeds, including the ability to pay administrative costs and to contract with diverse providers; includes severability and immediate effectiveness.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Education