HB137 Alabama 2024 Session

Summary

Primary Sponsor

Randall Shedd

Republican

Session

Regular Session 2024

Title

Establishing the Board of Medical Scholarship Awards Fund

Summary

HB137 would create the Board of Medical Scholarship Awards Fund in the State Treasury and require all related money to be deposited there and used continuously to fund medical student scholarships and loans.

What This Bill Does

It creates a dedicated fund in the state treasury. It requires all money received by the board from loan repayments, fees, gifts, donations, grants, and bequests to be deposited into the fund. The fund would be continuously appropriated to grant scholarships and make loans to medical students, and the board would set annual administration budget from available funds. The act takes effect on October 1, 2024 and amends the relevant law to reflect the fund creation.

Who It Affects

• Medical students who receive scholarships or loans, as the fund would provide these awards
• Board of Medical Scholarship Awards, which would manage and allocate funds and establish annual administration expenses
• Donors, gifts, grants, and bequest providers, whose contributions would go into the fund

Key Provisions

• Creates the Board of Medical Scholarship Awards Fund in the State Treasury
• All monies received by the board from loan repayments, fees, gifts, donations, grants, and bequests shall be deposited in the fund and are continuously appropriated to fund scholarships or loans
• The board shall establish the fiscal requirements for its annual administration expenses, payable from funds available to the board
• Amends Section 16-47-123.1 to reflect the fund creation and continuous appropriation
• Effective date: October 1, 2024

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

Subjects

Authorities, Boards, & Commissions