HB104 Alabama 2013 Session

Updated Feb 26, 2026

Low Interest

Summary

Primary Sponsor: Ken Johnson
Republican
Session: Regular Session 2013
Title: State Treasurer, State Treasury Operations Fund created for operation of Unclaimed Property program and SAFE program, Secs. 35-12-81, 41-14A-12, 41-14A-14 am'd.
Summary: Creates a dedicated State Treasury Operations Fund to run the State Treasurer's Office and administer Unclaimed Property and the SAFE Program, funded from multiple state sources and subject to budgeting and audits.
What This Bill Does
It creates the State Treasury Operations Fund to pay for the Treasurer’s Office and the administration of Unclaimed Property and the SAFE Program, with funding from the General Fund, the Unclaimed Property Reserve Fund, and other receipts. Unobligated money in this fund stays in the fund and can only be spent as the Legislature budgeted. It also changes how Unclaimed Property money is handled: funds collected go into the Unclaimed Property Reserve Fund, claims are paid from that fund, and administrative costs are paid from the Unclaimed Property Administrative Fund with quarterly transfers; any surplus goes to the State General Fund. It creates the SAFE Program Administration Fund to pay SAFE program costs and board per diem, with unobligated amounts moved to the State Treasury Operations Fund; annual audits are required for SAFE and related funds.

Who It Affects
State Treasurer's Office: gains a dedicated funding stream (State Treasury Operations Fund) and clearer budgeting for daily operations and program administration.
Unclaimed Property program participants (owners, beneficiaries, and claimants): claims and administrative processes are funded through a defined funding structure, with payments to claimants from the Unclaimed Property Reserve Fund.
Alabama taxpayers/general fund: surplus money from the Unclaimed Property Reserve Fund is transferred to the State General Fund, and the Treasurer may request additional appropriations if needed.

Key Provisions
Create State Treasury Operations Fund in the state treasury to fund the operations of the State Treasurer's Office and administration of Unclaimed Property and the SAFE Program; funds may come from General Fund appropriations, Unclaimed Property Reserve Fund, and other receipts; unobligated amounts carry over for operations and may be spent only as budgeted.
Amend 35-12-81: require funds from Unclaimed Property revenues to be deposited into Unclaimed Property Reserve Fund, pay claims, and transfer funds to the State Treasury Operations Fund Unclaimed Property Administrative Fund; administer costs paid from Administrative Fund with quarterly transfers from the Reserve Fund; surplus or unobligated amounts to be transferred to General Fund or State Treasury Operations Fund as specified.
Amend 41-14A-12: create SAFE Program Administration Fund to pay SAFE program costs and board per diem; unobligated amounts transferred to State Treasury Operations Fund after the cutoff date.
Amend 41-14A-14: SAFE Program and related funds audited annually by the Examiners of Public Accounts.
Section 3/Section 4: Repeals conflicting laws; effective October 1, 2014.

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