SB362 Alabama 2014 Session

Summary

Primary Sponsor

Clay Scofield

Republican

Co-Sponsors

Jerry L. FieldingCam WardGreg J. ReedTom WhatleyPhillip W. WilliamsDel MarshRoger Bedford, Jr.Gerald H. AllenPaul BussmanGerald O. DialScott Beason

Session

Regular Session 2014

Title

Alabama Poultry Farm Revolving Loan Fund, established, administered by the Department of Agriculture and Industries, revenue bonds authorized

Summary

SB362 creates a state revolving loan fund and bond program to help Alabama poultry and egg farms switch from propane to wood heating.

What This Bill Does

It creates the Alabama Poultry Farm Revolving Loan Fund, to be operated by the Department of Agriculture and Industries. It authorizes the department to issue revenue bonds up to 30 million dollars to capitalize the fund. The fund can provide loans to poultry or egg farms to transition from propane-fueled heating to wood-fueled heating, with loan rules and a requirement that borrowers plan the transition and use wood produced in Alabama; interest would cover the fund's costs. The bonds are repaid from fund revenues and are not a general obligation of the state, and the department must report annually on the fund.

Who It Affects

• Poultry and egg farm operators in Alabama would be able to apply for loans to switch heating sources and must meet criteria and plan requirements.
• The Department of Agriculture and Industries (and related financial arrangements for bond issuance and fund management) would administer the program, manage funds and report to the Governor.

Key Provisions

• Establishes the Alabama Poultry Farm Revolving Loan Fund to be run by the Department of Agriculture and Industries.
• Allows loans to poultry or egg farms to transition from propane-fueled to wood-fueled heating sources.
• Authorizes the department to issue revenue bonds up to $30 million to capitalize the fund; bonds are repaid from fund revenues and are not state debt.
• Requires loan applicants to provide a transition plan and to declare use of wood produced in Alabama; sets interest rate to cover fund costs.
• Requires annual reporting to the Governor about the fund, including administrative expenses.
• Permits the fund to deposit and invest money in banks and credit the interest to the fund.
• Specifies bond provisions, including maturities up to 30 years, and allows the department to arrange payment, registration, and other bond-related matters.

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

Subjects

Agriculture