SB1 Alabama 2023 Session

Summary

Primary Sponsor

Greg AlbrittonSenator

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

This bill provides a one-time appropriation of $59,997,772 from the State General Fund to the Alabama Trust Fund to satisfy obligations under The Peoples Trust Act for the 2023 fiscal year.

What This Bill Does

Transfers $59,997,772 from the State General Fund to the Alabama Trust Fund. Uses the money to fulfill obligations under The Peoples Trust Act for the fiscal year ending September 30, 2023. The appropriation is in addition to all other appropriations and takes effect immediately upon passage and the governor's approval.

Who It Affects

• State General Fund: provides the source of funds for the transfer.
• Alabama Trust Fund: receives the funds to cover the specified obligations.
• The Peoples Trust Act obligations: funded for the FY2023 period.

Key Provisions

• Section 1: Appropriates $59,997,772 from the State General Fund to the Alabama Trust Fund to satisfy obligations of The Peoples Trust Act for the fiscal year ending September 30, 2023.
• Section 2: The act becomes effective immediately upon passage and approval by the Governor (or otherwise becoming law).

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