SB426 Alabama 2013 Session
Bill Summary
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
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
This bill would dissolve the foundation and provide for the disbursement of the funds held in the accounts of the foundation
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.
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 |