SB69 Alabama 2024 Session

Summary

Primary Sponsor

Greg Albritton Senator

Republican

Session

Regular Session 2024

Title

Children First Trust Fund, appropriations from for fiscal year ending September 30, 2025, use of allocation pursuant to Section 41-15B-2.2 and this act, tobacco settlement revenues deposited in fund within 30 days of receipt.

Description

Under existing law, Children First Trust Fund programs are required to be funded through a separate appropriation in a separate act.

This bill would make an appropriation of $39,531,128 from the Children First Trust Fund for the fiscal year ending September 30, 2025, to the entities and for the purposes designated in Section 41-15B-2.2, Code of Alabama 1975.

This bill would provide for the deposit of tobacco settlement revenues into the Children First Trust Fund, would require the State Director of Finance to notify each agency in writing of the amount of each agency's anticipated allocation, would require quarterly allocation to each agency, and would condition allocations upon the receipt of tobacco funds.

This bill would provide for the transfer to the State General Fund during fiscal year 2025 that portion of Children First Trust Fund receipts currently allocated for the State Board of Education.

This bill would make an appropriation of $49,596,888 from other tobacco settlement funds for the fiscal year ending September 30, 2025.

This bill would also make a conditional SB69 INTRODUCED appropriation and allocation of any additional tobacco revenue on recommendation of the Director of Finance, the Chairman of the House Ways and Means General Fund Committee and the Chairman of the Senate Finance and Taxation-General Fund Committee, and approval of the Governor.

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Subjects

Appropriations