SB53 Alabama 2015 1st Special Session
Bill Summary
This bill would propose an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund and Mobile and Baldwin County Settlement Trust Fund
The proposed amendment would require the Alabama Trust Fund Board of Trustees to administer the Alabama Legacy Trust Fund and gives the Legislature the authority to appropriate the Mobile and Baldwin County Settlement Trust Fund
The proposed amendment provides for the distribution of certain payments received by the state from settlements and other monies
The proposed amendment also provides that Legacy Trust Fund capital be held in perpetual trust and provides for the distribution of Legacy Trust Fund income
Proposing an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund and Mobile and Baldwin County Settlement Trust Fund; to provide for the distribution of payments from settlements and other monies; to provide for the holding of Legacy Trust Fund capital in perpetual trust; and to provide for the distribution of Legacy Trust Fund income.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| August 5, 2015 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | August 6, 2015 | Room 727 at 10:00 | Senate F&TG Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB53 Alabama 2015 1st Special Session - Introduced |