SB426 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Foundation for Local Schools, dissolved and monies disbursed to local schools and trust accounts, Secs. 16-26C-1 to 16-26C-13 repealed
Description
<p class="bill_description"> Under existing law, the Foundation for Local
Schools was created by legislative act as a public
corporation to accept and invest private donations
for the enhancement of public K-12 schools</p><p class="bill_description">
Also, existing law requires, upon
dissolution of the foundation, for monies in the
accounts of various school systems to be disbursed
to local school systems and monies remaining in
various participating trusts to be returned in
whole to the treasurer of each applicable trust
fund</p><p class="bill_description">
This bill would dissolve the foundation and
provide for the disbursement of the funds held in
the accounts of the foundation</p><p class="bill_entitled_an_act"> Relating to the Foundation for Local Schools; to
provide for the dissolution of the foundation and the
disbursement of funds held in the accounts of the foundation;
and to repeal Chapter 26C, consisting of Sections 16-26C-1 to
16-26C-13, Title 16, Code of Alabama 1975.
</p>
Subjects
Foundation for Local Schools
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 7, 2013 | S | Indefinitely Postponed |
| April 24, 2013 | S | Read for the second time and placed on the calendar |
| April 11, 2013 | S | Read for the first time and referred to the Senate committee on Education |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB426 Alabama 2013 Session - Introduced |