HB126 Alabama 2014 Session

This bill would propose an amendment to the Constitution of Alabama of 1901, to create a Small Business and Job Creation Fund for the purpose of providing a statewide availability of funds for lending purposes to businesses forming new business entities. This bill would provide for the transfer of $50 million each year for three years from the Alabama Trust Fund to the Small Business and Job Creation Fund and would provide for administration of small business loans from the fund by the Department of Commerce. This bill would also provide for further implementation and administration of loans from the Small Business and Job Creation Fund by the Legislature

To propose an amendment to the Constitution of Alabama of 1901, to establish a Small Business and Job Creation Fund, to provide for the transfer of funds from the Alabama Trust Fund; to provide for administration of loans from the fund by the Alabama Development Office; and to provide for further administration and implementation of the loans by further act of the Legislature.