HB121 Alabama 2022 Session
Bill Summary
Under current law, municipal funds and county funds not needed for other purposes may be invested in certain obligations.
This bill would authorize the investment of municipal funds and county funds into commercial paper with the highest credit rating at the time of purchase, or banker's acceptances, and would prohibit the investment of those funds into closed-end management type investment companies.
This bill would also make nonsubstantive, technical revisions to update the existing code language to current style.
Relating to local government; to amend Section 11-81-21, Code of Alabama 1975, to further provide the investment of certain municipal and county funds; and to make nonsubstantive, technical revisions to update the existing code language to current style.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 9, 2022 | H | Garrett motion to Indefinitely Postpone adopted Voice Vote |
| March 9, 2022 | H | Garrett motion to SB178 Substitute FOR HB121 a Companion Bill adopted Voice Vote |
| March 9, 2022 | H | Third Reading Indefinitely Postponed |
| February 2, 2022 | H | Read for the second time and placed on the calendar |
| January 13, 2022 | H | Read for the first time and referred to the House of Representatives committee on County and Municipal Government |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB121 Alabama 2022 Session - Introduced |
Source: Alabama Legislature