SB13 Alabama 2013 Session

Summary

Primary Sponsor

Bryan Taylor

Republican

Co-Sponsors

Arthur OrrDel MarshJimmy HolleyPaul BussmanJ.T. WaggonerTrip PittmanShadrack McGillGerald H. AllenPhillip W. WilliamsRusty GloverClay ScofieldDick Brewbaker

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

SB13 would require repayment of the funds transferred from the Alabama Trust Fund to the State General Fund during 2013–2015, with any unrepaid balance covered by a State General Fund appropriation in 2026.

What This Bill Does

The bill adds a repayment requirement to the existing constitutional amendment. It states that about $145,796,943 must be repaid to the Alabama Trust Fund within ten years after the 2015 fiscal year, effectively undoing the idea that the transfers do not need repayment. If full repayment isn’t complete by September 30, 2025, the State General Fund would provide an appropriation in fiscal year 2026 for any amount not repaid.

Who It Affects

• Alabama Trust Fund: funds previously transferred to the State General Fund would need to be repaid, affecting the fund's balances and future financial planning.
• State General Fund: may be required to provide repayment funding and, if remaining unpaid by 2025, to allocate a 2026 appropriation to cover the unrepaid amount.

Key Provisions

• The Legislature must 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.
• If full repayment is not completed by September 30, 2025, an appropriation from the State General Fund in the fiscal year ending September 30, 2026 will cover any amount not repaid.
• Transfers of $145,796,943 will occur each year for three fiscal years (2013–2015) under the constitutional amendment, and the bill changes this by requiring repayment.
• This act repeals any conflicting laws and becomes effective immediately upon passage and approval.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Appropriations