HB177 Alabama 2013 Session

Under Amendment 856 of the Constitution of Alabama of 1901, funds will be transferred from the Alabama Trust Fund to the State General Fund each year over three fiscal years beginning with the fiscal year ending September 30, 2013, and concluding with the fiscal year ending September 30, 2015. The amendment does not require the transferred funds to be repaid

This bill would propose a constitutional amendment to require the repayment with interest of the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901, within six years following the fiscal year ending September 30, 2015; to provide the procedure for the repayment of the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901; to increase the tax on cigarettes by an additional 50 mills on each cigarette; and to provide that the proceeds from the tax levied by the state on cigarettes and other appropriations from the Alabama Legislature shall be used to repay the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901

To propose a constitutional amendment requiring the repayment with interest of the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901, within six years following the fiscal year ending September 30, 2015; to provide the procedure for the repayment of the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901; to increase the tax on cigarettes by an additional 50 mills on each cigarette; and to provide that the proceeds from the tax levied by the state on cigarettes and other appropriations from the Alabama Legislature shall be used to repay the funds transferred from the Alabama Trust Fund pursuant to Amendment 856 to the Constitution of Alabama of 1901.