SB191 Alabama 2022 Session

Summary

Primary Sponsor

Greg AlbrittonSenator

Republican

Session

Regular Session 2022

Title

Supplemental appropriations, from the American Rescue Plan Act - State Small Business Credit Initiative Fund for fiscal year ending September 30, 2022.

Summary

The bill appropr..ates about $97.94 million in ARPA State Small Business Credit Initiative funds to Alabama for the 2022 fiscal year to support small business credit programs, with rules on reductions, reappropriation, and federal compliance.

What This Bill Does

It allocates $97,943,015 of ARPA SSBCI funds to the Department of Finance for the year ending September 30, 2022. If federal funding is less than that amount, the appropriation is reduced accordingly. The funds may be delegated to the Alabama Innovation Corporation or another designated entity. Any unspent funds on September 30, 2022 will be reappropriated for the same purposes starting October 1, 2023 and for future years. The administering entity and any delegates/subrecipients must comply with federal requirements and provide requested information in a timely manner.

Who It Affects

• Department of Finance – will receive, manage, and ensure compliance with federal rules for the funds.
• Alabama Innovation Corporation or other designated administering entity – may manage the funds and distribute them to programs or delegates.
• Delegates or subrecipients of the funds – must provide all requested information to the Department of Finance on time.
• The state and small businesses in Alabama – potential beneficiaries of the SSBCI programs supported by these funds.

Key Provisions

• Appropriates $97,943,015 in federal ARPA SSBCI funds to the Department of Finance for fiscal year ending September 30, 2022.
• If the state receives less than the stated amount, the appropriation is reduced by the shortage.
• Funds may be delegated to the Alabama Innovation Corporation or another entity designated by the Department of Finance.
• Unexpended funds as of September 30, 2022 are reappropriated for the same purposes beginning October 1, 2023 and for all subsequent fiscal years.
• The administering entity may enter agreements to ensure compliance with federal law; delegates/subrecipients must provide information requested by the Department of Finance in full and timely manner.
• The act becomes effective immediately after Governor's approval.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Supplemental Appropriations