Motion to Read a Third Time and Pass
Yes
30
Absent
5
SB231 Alabama 2015 Session
Updated Jul 24, 2021
SB231 Alabama 2015 Session
Senate Bill
In Committee
Current Status
Regular Session 2015
Session
1
Sponsor
Summary
- Primary Sponsor
-
Gerald H. Allen SenatorRepublican - Session
- Regular Session 2015
- Title
- Legacy Trust Fund, created, board of trustees, settlement proceeds, assets repay Alabama Trust Fund Rainy Day Account, assets held in trust, interest paid to General Fund, Alabama Capital Improvement Trust Fund, and to Legacy Trust Fund, const. amend.
- Description
This bill would propose an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund.
The proposed amendment would require the Alabama Trust Fund Board of Trustees to administer the fund.
The proposed amendment provides for the distribution of certain payments received by the state from settlements and other monies.
The proposed amendment also provides that trust capital be held in perpetual trust and provides for the distribution of trust income.
- Subjects
- Constitutional Amendments
Bill Actions
S
Indefinitely Postponed
S
Further Consideration
S
Hightower motion to Carry Over to the Call of the Chair adopted Voice Vote
S
Finance and Taxation General Fund Amendment Offered
S
Third Reading Carried Over to Call of the Chair
S
Read for the second time and placed on the calendar with 1 substitute and 1 amendment
S
Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
Bill Text
Votes
Documents
Source: Alabama Legislature