HB296 Alabama 2019 Session

Sponsors

Session

Regular Session 2019

Title

Fiscal year, to change the date and provide implementation of a new fiscal year, provide definition of fiscal year for the state, Secs. 1-3-4, 11-8-1, 16-13-1, 11-43A-29, 11-43A-94, 11-43C-41, 11-44C-41, 11-44E-110 am'd.

Description

<p class="bill_description"> Under present law, the fiscal year of the state begins on October 1 and ends on September 30</p><p class="bill_description"> This bill would change the beginning of the fiscal year for the State of Alabama and instrumentalities of the state to July 1 of each year, starting with the 2022 fiscal year which is to begin July 1, 2021</p><p class="bill_description"> This bill would provide for the definition of the fiscal year for the state; change the date of the fiscal year; provide for a nine-month implementation fiscal year from October 1, 2020 through June 30, 2021; and authorize the Governor to promulgate procedures necessary to implement this act</p><p class="bill_description"> This bill would provide that all appropriations made for the term that is the current lawful fiscal year 2021 would be allotted to conform with the nine-month implementation fiscal year and the first quarter of the 2022 fiscal year; provide that all sum certain distributions of tax revenue shall be made at 75 percent (made at the nine months of estimated monthly revenue) of the sum certain amounts during the implementation fiscal year; and authorize conformity of dates with the new fiscal year as provided herein with the Code of Alabama 1975</p><p class="bill_entitled_an_act"> To amend Sections 1-3-4, 11-8-1, 11-43A-29, 11-43A-94, 11-43C-41, 11-44C-41, 11-44E-110 and 16-13-1 Code of Alabama 1975, to change the date of the fiscal year and to provide for the implementation of the new fiscal year period. </p>

Subjects

Government