SB290 Alabama 2013 Session

Summary

Primary Sponsor

Paul Sanford

Republican

Session

Regular Session 2013

Title

Alabama Trust Fund, Deep Water Horizon proceeds to be used to repay transfer of fund from the Alabama Trust Fund

Summary

SB290 would require Deep Water Horizon settlement proceeds to be used first to repay funds moved from the Alabama Trust Fund or the General Fund Rainy Day Account to the General Fund, with any remaining proceeds deposited into the Alabama Trust Fund.

What This Bill Does

If enacted, the bill directs that settlement money Alabama receives from the Deep Water Horizon case must be used to reimburse the General Fund for transfers from the Alabama Trust Fund and the General Fund Rainy Day Account. After these repayments, any leftover money would go into the Alabama Trust Fund. The act also specifies when it would take effect after passage and governor approval.

Who It Affects

• General Fund and General Fund Rainy Day Account: proceeds must be used to repay these funds for transfers to the General Fund
• Alabama Trust Fund: remaining settlement proceeds would be deposited into this fund

Key Provisions

• Proceeds from Deep Water Horizon settlements or related monetary dispositions must be used to repay funds transferred from the Alabama Trust Fund or the General Fund Rainy Day Account to the General Fund (notwithstanding other laws).
• Any remaining proceeds after these repayments shall be deposited into the Alabama Trust Fund.
• Effective date: the first day of the third month following passage and governor's approval (or otherwise becoming law).

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

Subjects

Alabama Trust Fund