HB6 Alabama 2013 Session

Summary

Primary Sponsor

Jay Love

Republican

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

Summary

HB6 would require repayment to the Alabama Trust Fund for funds previously transferred to the State General Fund, within ten years after 2015, with a possible 2026 appropriation if any amount remains unpaid.

What This Bill Does

It requires the Legislature to repay all funds transferred from the Alabama Trust Fund to the State General Fund within ten years after the fiscal year ending September 30, 2015 (by September 30, 2025). If the repayment is not complete by that date, the State General Fund must provide an appropriation in fiscal year 2026 for any remaining amount. The bill also repeals laws that conflict with it and takes effect immediately upon approval.

Who It Affects

• Alabama Trust Fund — will receive repayments of the funds that were previously transferred to the State General Fund.
• State General Fund/State budget — must allocate money to repay the transferred funds, with a potential 2026 appropriation if any amount remains unpaid.

Key Provisions

• Requires repayment of all funds transferred from the Alabama Trust Fund to the State General Fund within ten years following the fiscal year ending September 30, 2015 (deadline by September 30, 2025).
• If not fully repaid by September 30, 2025, requires a State General Fund appropriation in fiscal year ending September 30, 2026 for any amount not repaid.
• Repeals conflicting laws and becomes effective immediately upon approval.

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

Subjects

Appropriations