HB330 Alabama 2015 Session

In Committee

Bill Summary

Sponsors

Alan Boothe

Session

Regular Session 2015

Title

Education Trust Fund, rolling reserve, additional percentage of projected surplus by Finance Director and Director of Legislative Fiscal Office, added to calculator for appropriation cap, Sec. 29-9-4 am'd.

Description

Under existing law, the Education Trust Fund Rolling Reserve Act limits appropriations from the Education Trust Fund to an amount determined by a formula. The formula provides for the addition of specific amounts to determine the annual appropriation cap. Revenues received in excess of the cap are transferred to a Budget Stabilization Fund

This bill would amend the Education Trust Fund Rolling Reserve Act to provide for an additional amount that would be added to the calculation of the annual appropriation cap

To amend Section 29-9-4, Code of Alabama 1975, relating to the Education Trust Fund Rolling Reserve Act, to provide further for the calculation of the appropriation cap; and to provide that the change proposed by this act shall first be effective for appropriations made for the fiscal year ending September 30, 2016.

Subjects

Education Trust Fund

Bill Actions

Action Date	Chamber	Action
March 19, 2015	H	Read for the first time and referred to the House of Representatives committee on Ways and Means Education

Bill Text

Download HB330 Alabama 2015 Session PDF

Bill Documents