HB322 Alabama 2015 Session

Updated Jul 24, 2021

House Bill

Expired

Current Status

Regular Session 2015

Session

Sponsor

Summary

Primary Sponsor: Bill Poole
Republican
Session: Regular Session 2015
Title: Education Trust Fund, Rolling Reserve, to provide further for appropriation cap; ETF Budget Stabilization Fund authorizes further uses of revenues, including payments to the PACT Fund; to prohibit appropriations from holding or clearing accounts; Secs. 29-9-3, 29-9-4 am'd.
Description: This bill amends the Education Trust Fund Rolling Reserve Act of 2011 so as to amend certain provisions of the Act to provide further for the determination of the annual appropriation cap and the disposition of revenues from the Education Trust Fund Budget Stabilization Fund. This bill amends the Wallace-Folsom College Savings Investment Plan Act to delete certain obsolete provisions concering PSCA debt service. This bill further clarifies the fiscal status of holding or clearing accounts created as an administrative convenience to implement the statutory and/or constitutional distribution of earmarked tax revenues so as to prohibit the appropriation of such funds.
Subjects: Education Trust Fund