HB490 Alabama 2015 Session
Bill Summary
Under Act 2013-6, The People's Trust Act, the Legislature is required to repay all amounts transferred from the Alabama Trust Fund to the State General Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901 by not later than September 30, 2026 based on a schedule of minimum cumulative amounts that must be repaid at the end of each fiscal year between the fiscal year ending September 30, 2014 and the fiscal year ending September 30, 2026
This bill would revise the repayment schedule for the People's Trust Act to provide the repayment by not later than September 30, 2027
To amend Section 29-10-1, Code of Alabama 1975, regarding The People's Trust Act, to revise the repayment schedule for funds transferred from the Alabama Trust Fund to provide for the repayment by not later than September 30, 2027.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| June 3, 2015 | H | Indefinitely Postponed |
| April 23, 2015 | H | Read for the second time and placed on the calendar |
| April 14, 2015 | H | Read for the first time and referred to the House of Representatives committee on Ways and Means General Fund |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 22, 2015 | Room 617 at 14:30 | House W&MGF Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB490 Alabama 2015 Session - Introduced |