HB126 Alabama 2014 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2014
Title
Small Business and Job Creation Fund, established, funded with annual transfer from Alabama Trust Fund for three years, exceptions, administration of fund by Alabama Development Office, const. amend.
Description
<p class="bill_description"> This bill would propose an amendment to the
Constitution of Alabama of 1901, to create a Small
Business and Job Creation Fund for the purpose of
providing a statewide availability of funds for
lending purposes to businesses forming new business
entities. This bill would provide for the transfer
of $50 million each year for three years from the
Alabama Trust Fund to the Small Business and Job
Creation Fund and would provide for administration
of small business loans from the fund by the
Department of Commerce. This bill would also
provide for further implementation and
administration of loans from the Small Business and
Job Creation Fund by the Legislature</p><p class="bill_entitled_an_act"> To propose an amendment to the Constitution of
Alabama of 1901, to establish a Small Business and Job
Creation Fund, to provide for the transfer of funds from the
Alabama Trust Fund; to provide for administration of loans
from the fund by the Alabama Development Office; and to
provide for further administration and implementation of the
loans by further act of the Legislature.
</p>
Subjects
Constitutional Amendments
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 14, 2014 | H | Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB126 Alabama 2014 Session - Introduced |