HB94 Alabama 2013 Session

Updated Feb 24, 2026

Summary

Primary Sponsor: Jay Love
Republican
Session: Regular Session 2013
Title: Alabama Trust Fund, transfers to State General Fund pursuant to const. amend., repayment within certain time frame, appropriation, People's Trust Act
Summary: HB94 requires repayment of funds borrowed from the Alabama Trust Fund to the State General Fund by September 30, 2026, with a specified annual repayment schedule.
What This Bill Does
It sets a minimum total amount that must be repaid by specific dates from 2014 through 2026. It requires the Legislative Fiscal Office to report annual repayment progress starting in 2015. If the Legislature doesn't provide enough money to meet the yearly targets, the General Fund must cover the shortfall with a guaranteed appropriation that cannot be prorated. It also repeals conflicting laws and takes effect immediately upon approval.

Who It Affects
Alabama Trust Fund and the funds transferred to the State General Fund, because the bill requires those funds to be repaid with a fixed schedule.
State budgeting authorities (Legislature, Legislative Fiscal Office, and General Fund managers), because they must plan, appropriate, and report on the required repayments and funding if shortfalls occur.

Key Provisions
Repayment requirement: all funds borrowed from the Alabama Trust Fund under Amendment 856 must be repaid to the Trust Fund by September 30, 2026.
Minimum repayment schedule: annual cumulative repayment targets begin at $5,000,000 by 9/30/2014 and increase each year, culminating at $437,390,829 by 9/30/2026.
Reporting: starting in 2015, the Legislative Fiscal Office must report the total cumulative repayment as of the end of the preceding fiscal year.
Shortfall remedy: if the Legislature does not appropriate enough to meet a year's target, the General Fund must provide the difference, and the payment cannot be reduced through proration.
Other: repeals conflicting laws and the act takes effect immediately after passage and governor 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