HB312 Alabama 2014 Session

Summary

Primary Sponsor

Barbara Bigsby BoydRepresentative

Democrat

Co-Sponsors

Joe HubbardDarrio MeltonRod ScottGreg BurdineMarcel BlackThomas JacksonCraig Ford

Session

Regular Session 2014

Title

Workforce Development and Training Act, Public School and College Authority, bonds authorized in amount of $20,000,000 to expand workforce training programs operated by two-year college system

Summary

HB312 would authorize up to $20 million in bonds to fund expansion of workforce development and training programs through the Alabama Community College System for existing business and industry partners.

What This Bill Does

The bill creates a new Workforce Development and Training Fund and a Grant Committee to distribute bond proceeds as grants to expand workforce education and training for existing businesses. Proceeds and their earnings would be used to support programs identified by regional workforce plans and allocated through the 21st Century Workforce Fund. The debt would be repaid from specific state tax receipts and would not create a general state debt, with bonds exempt from state taxes and subject to detailed issuance rules and safeguards, including Governor oversight and open meetings requirements.

Who It Affects

• Existing businesses and industry partners would benefit from expanded training programs funded by the bond proceeds, targeted to regional needs.
• Alabama Community College System students and workers seeking training would be affected through expanded programs and grants administered by the new fund and committee.

Key Provisions

• Authorizes the Alabama Public School and College Authority to issue up to $20,000,000 in additional bonds for expanding workforce education and training for existing businesses and industry partners.
• Creates the Workforce Development and Training Fund and the Workforce Development and Training Grant Committee to allocate funds based on regional workforce data and to distribute grants for program expansion.
• Proceeds to the State Department of Postsecondary Education for allocation to the 21st Century Workforce Fund; grants awarded through a committee process with quarterly meetings, public access, and a nine-member quorum requiring nine affirmative votes for approval.
• Bonds are limited obligations payable solely from pledged residues of specified excise taxes and other tax receipts, and do not constitute a debt of the State of Alabama; bonds have tax-exempt status and may secure deposits or be invested under permitted investments.
• Authority may issue refunding bonds with specific conditions to protect debt service costs and average maturity limitations; proceeds may be invested to ensure payment of debt service.
• Issuance and sale require competitive bids, with governor’s written approval; issuance must be based on a determination that the sale will not impair the trust fund’s ability to pay appropriations and support education.
• Investment, administration, and operating costs may be paid from bond proceeds and fund receipts, prorated among grant recipients; diversity requirements apply to contractors and professionals engaged by the authority.
• Maturity: bonds may not have a maturity date later than 20 years from issuance; optional redemption beginning after the tenth anniversary; proceeds deposited and administered by the State Treasurer and the authority for debt service.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Bonds