SB27 Alabama 2015 2nd Special Session
Bill Summary
This bill would propose an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund
The proposed amendment would require the Alabama Trust Fund Board of Trustees to administer the fund
The proposed amendment provides for the distribution of certain payments received by the state from settlements and other monies
The proposed amendment also provides that trust capital be held in perpetual trust and provides for the distribution of trust income
The proposed amendment would require the Legislature to enact legislation creating an authority to issue revenue bonds using any Deepwater Horizon Oil Spill Disaster Settlement to fund the bond payments
Proposing an amendment to the Constitution of Alabama of 1901, to create the Alabama Legacy Trust Fund; to provide for the distribution of payments from settlements and other monies; to provide for the holding of trust capital in perpetual trust; and to provide for the distribution of trust income.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| September 9, 2015 | S | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB27 Alabama 2015 2nd Special Session - Introduced |