HB542 Alabama 2013 Session

Summary

Primary Sponsor

Mark Tuggle

Republican

Co-Sponsors

Charles O. NewtonSteve McMillan

Session

Regular Session 2013

Title

Armory Commission of Alabama, proposed const. amend., bond issuance in amount of $50,000,000 authorized for commission for building and maintenance of Alabama National Guard armories, pursuant to authority of Amendment 666

Summary

HB542 would amend the Alabama Constitution to add $50 million in bonding authority for National Guard armory projects, funded through the Alabama Trust Fund, with requirements for public bidding and diverse contracting.

What This Bill Does

It increases the state's general obligation bonding authority by $50 million under Amendment 666. Bonds would be sold at public sale with bids judged by the lowest true interest cost, and may be rejected if no acceptable bid is received. Bond proceeds would go to the Armory Commission for planning, construction, and maintenance of National Guard armories, and the Bond Commission would contract with diverse Alabama businesses. Debt service would be funded from the Alabama Trust Fund, using Oil and Gas Capital Payments to the Capital Improvement Trust Fund as needed, and bonds would have a maximum maturity of 20 years or less. The amendment would only take effect if approved by voters in an election.

Who It Affects

• Armory Commission of Alabama and the Alabama National Guard, who would receive bond proceeds and oversee armory planning, construction, and maintenance.
• Bond Commission and related state funds (Alabama Trust Fund and Alabama Capital Improvement Trust Fund), which would manage bond issuance, ensure diversity in bidding, and allocate funds to pay principal and interest.

Key Provisions

• Authority to issue General Obligation bonds increased by $50,000,000 under Amendment 666.
• Bonds must be sold at public sale (sealed bids or public auction) to the lowest true interest cost; bids must be advertised and accepted bids only; rejection allowed if no acceptable bid exists.
• Bond issuance-related expenses and appointments must involve businesses or individuals reflecting Alabama's racial and ethnic diversity.
• Bonds issued under this amendment shall mature in 20 years or less.
• Proceeds from the bonds must be distributed to the Armory Commission of Alabama for armory plans, construction, and maintenance.
• Additional payments from the Alabama Trust Fund may be used to fund bond principal and interest; Oil and Gas Capital Payments paid into the Alabama Capital Improvement Trust Fund to cover debt service as needed.
• Other provisions of Amendment 666 and Amendment 856 remain unchanged.
• The amendment requires voter approval in an election to become valid.

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

Subjects

Constitutional Amendments