HB273 Alabama 2024 Session

Summary

Primary Sponsor

Randall Shedd

Republican

Session

Regular Session 2024

Title

Establishing the Board of Medical Scholarship Awards Fund

Summary

This bill creates a dedicated state treasury fund for the Board of Medical Scholarship Awards and directs money from repayments, donations, and other sources to pay for medical scholarships and loans.

What This Bill Does

It establishes the Board of Medical Scholarship Awards Fund in the State Treasury. All money the board receives from loan repayments, fees, gifts, donations, grants, and bequests must go into this fund and be used continuously to grant scholarships or make loans to medical students. The board must set annual rules for its administrative expenses, which can be paid from funds available to the board. The act takes effect on October 1, 2024.

Who It Affects

• Medical students in Alabama who receive scholarships or loans, as the funding for those awards is now organized through a dedicated state fund.
• The Board of Medical Scholarship Awards and donors/other contributors (fees, gifts, donations, grants, bequests) whose payments will go into the new fund and be used to support scholarships and loans.

Key Provisions

• Creates the Board of Medical Scholarship Awards Fund in the State Treasury.
• Directs all monies received by the board from specified sources (loan repayments, fees, gifts, donations, grants, bequests) to be deposited into the fund and continuously appropriated for scholarships or loans to medical students.
• Requires the board to establish annual fiscal requirements for its administration expenses, payable from funds available to the board.
• Effective date set to 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