SB30 Alabama 2015 2nd Special Session
Summary
- Primary Sponsor
-
Bill HightowerRepublican - Session
- Second Special Session 2015
- Title
- Legacy Trust Fund, estab., proceeds from settlements other than Deepwater Horizon, Coastal County Trust Fund, estab. proceeds from Deepwater Horizon settlement, distrib. to Mobile and Baldwin Counties, Alabama Trust Fund board to administer use of proceeds, const. amend.
- Description
This bill would propose an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund and Coastal County 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 Coastal County 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.
- Subjects
- Constitutional Amendments
Bill Actions
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Bill Text
Documents
Source: Alabama Legislature