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.
|March 19, 2015||H||Read for the first time and referred to the House of Representatives committee on Ways and Means Education|
|Bill Text||HB330 Alabama 2015 Session - Introduced|