HB330 Alabama 2015 Session
In Committee
Bill Summary
Sponsors
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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> 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.
</p>
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
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB330 Alabama 2015 Session - Introduced |