HB6 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Alabama Trust Fund, transfer of funds to State General Fund pursuant to const. amend., repayment required within certain timeframe, appropriation, People's Trust Act
Description
<p class="bill_description"> Under Amendment to the
Constitution of Alabama of 1901, $145,796,943 will
be transferred from the Alabama Trust Fund to the
State General Fund each year over three fiscal
years beginning with the fiscal year ending
September 30, 2013 and concluding with the fiscal
year ending September 30, 2015. The amendment does
not require the transferred funds to be repaid</p><p class="bill_description">
This bill would require the Legislature to
repay all amounts transferred from the Alabama
Trust Fund within ten (10) years following the
fiscal year ending September 30, 2015 and providing
for an appropriation in fiscal year ending
September 30, 2026 from the State General Fund of
any amount not repaid</p><p class="bill_entitled_an_act"> To require the Legislature to repay all amounts
transferred from the Alabama Trust Fund to the State General
Fund pursuant to Amendment to the Constitution of
Alabama of 1901 within ten (10) years following the fiscal
year ending September 30, 2015 and to provide for an
appropriation in fiscal year ending September 30, 2026 from
the State General Fund of any amount not repaid.
</p>
Subjects
Appropriations
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 5, 2013 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB6 Alabama 2013 Session - Introduced |