HB2 Alabama 2023 Session

Summary

Primary Sponsor

Rex ReynoldsRepresentative

Republican

Session

First Special Session 2023

Title

To make a supplemental appropriation from the State General Fund to the Alabama Trust Fund in the amount of $59,997,772 for the fiscal year ending September 30, 2023.

Summary

HB2 would make a one-time transfer of $59,997,772 from the State General Fund to the Alabama Trust Fund to satisfy obligations under The Peoples Trust Act for FY2023.

What This Bill Does

HB2 provides a one-time supplemental appropriation of $59,997,772 from the State General Fund to the Alabama Trust Fund for the fiscal year ending September 30, 2023 to satisfy obligations of The Peoples Trust Act. This amount is in addition to all other appropriations. The measure becomes effective immediately upon passage and the Governor's approval, or as otherwise provided by law.

Who It Affects

• State General Fund: funds are transferred to the Alabama Trust Fund, reducing available General Fund resources for the current year.
• Alabama Trust Fund: receives the appropriation to be used to satisfy obligations under The Peoples Trust Act.

Key Provisions

• Section 1: Appropriates $59,997,772 from the State General Fund to the Alabama Trust Fund for the fiscal year ending September 30, 2023, to satisfy obligations of The Peoples Trust Act, in addition to existing appropriations, per Section 29-10-1.
• Section 2: This act becomes effective immediately upon its passage and approval by the Governor, or upon it becoming law otherwise.

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

Subjects

FY23 Alabama Trust Fund Supplemental Appropriation Bill