SB383 Alabama 2021 Session

Summary

Primary Sponsor

Clay Scofield

Republican

Co-Sponsor

Greg Albritton

Session

Regular Session 2021

Title

State parks, implementation of bonding authority of the Alabama State Parks Enhancement Authority, improvement and maintenance of state parks, Sec. 40-23-35 am'd.

Summary

SB383 would authorize up to $80 million in state general obligation bonds to improve Alabama state parks and create the Alabama State Parks Enhancement Authority to manage those bonds and park projects.

What This Bill Does

It creates the Alabama State Parks Enhancement Authority as a public corporation to issue and manage bonds for park improvements. It authorizes up to $80 million in general obligation bonds backed by the state's full faith and credit, with proceeds dedicated to improving, renovating, acquiring, provisioning, constructing, equipping, and maintaining state parks under the Department of Conservation and Natural Resources; the plan depends on ratification of a related constitutional amendment (SB362). The bill outlines how the bonds are issued, invested, spent, and repaid, including potential refunding bonds and required approvals, and it amends law to recognize bonds issued by the Authority; it also allows for dissolution if no bonds are outstanding.

Who It Affects

• Alabama residents and park visitors who would benefit from improved and better-maintained state parks funded by the bonds.
• State taxpayers and government entities, since the bonds are general obligations of the state and debt service would be funded through state resources, with governance and oversight by the Governor, Department of Conservation and Natural Resources, and other state officials.

Key Provisions

• Authorizes up to $80,000,000 in aggregate principal amount of general obligation bonds to fund state park improvements, contingent on ratification of SB362.
• Establishes the Alabama State Parks Enhancement Authority as a public corporation with defined leadership (Governor as president, Commissioner of Conservation and Natural Resources as vice-president, Director of Finance as secretary, State Treasurer as treasurer) and member structure.
• Gives the Authority powers to improve, renovate, equip, acquire, provide, construct, and maintain state parks; to issue and sell bonds and refunding bonds; and to enter contracts and transfer funds to the Department of Conservation and Natural Resources.
• Bonds are general obligations of the state backed by the state's full faith and credit; proceeds are deposited in the Alabama State Parks Enhancement Fund and invested for liquidity; interest and income may be exempt from state and federal taxes as described in the act.
• Requires contracts to be in writing and approved by the Governor, Director of Finance, and the Department of Conservation and Natural Resources; real or personal property acquired shall be in the state's name and transferred to the Department for use.
• Allows for refunding bonds with safeguards on present value and average maturity; permits dissolution of the Authority if no bonds are outstanding, with assets transferring to the Department.
• Amends Section 40-23-35 to include bonds issued by the Authority and outlines related fund allocations and statutory references.
• Effective date is contingent on ratification of SB362; otherwise, the act becomes effective upon passage and approval.

AI-generated summary using openai/gpt-5-nano on Feb 23, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

State Parks