SB231 Alabama 2015 Session
In Committee
Bill Summary
Sponsors
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
<p class="bill_description"> This bill would propose an amendment to the
Constitution of Alabama of 1901, to create the
Alabama Legacy Trust Fund</p><p class="bill_description">
The proposed amendment would require the
Alabama Trust Fund Board of Trustees to administer
the fund</p><p class="bill_description">
The proposed amendment provides for the
distribution of certain payments received by the
state from settlements and other monies</p><p class="bill_description">
The proposed amendment also provides that
trust capital be held in perpetual trust and
provides for the distribution of trust income</p><p class="bill_entitled_an_act"> Proposing an amendment to the Constitution of
Alabama of 1901, to create the Alabama Legacy Trust Fund; to
provide for the distribution of payments from settlements and
other monies; to provide for the holding of trust capital in
perpetual trust; and to provide for the distribution of trust
income.
</p>
Subjects
Constitutional Amendments
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| June 3, 2015 | S | Indefinitely Postponed |
| May 28, 2015 | S | Further Consideration |
| May 28, 2015 | S | Hightower motion to Carry Over to the Call of the Chair adopted Voice Vote |
| May 28, 2015 | S | Finance and Taxation General Fund Amendment Offered |
| May 28, 2015 | S | Third Reading Carried Over to Call of the Chair |
| April 2, 2015 | S | Read for the second time and placed on the calendar with 1 substitute and 1 amendment |
| March 12, 2015 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 1, 2015 | Room 727 at 09:30 | Senate F&TG Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB231 Alabama 2015 Session - Introduced |