Section 29-9-1 – Short Title.
Section 29-9-1 Short title. This chapter shall be known and may be cited as “The Education Trust Fund Rolling Reserve Act.” (Act 2011-3, p. 90, §1.)
Section 29-9-2 – Definitions.
Section 29-9-2 Definitions. THIS SECTION WAS AMENDED BY ACT 2022-358 IN THE 2022 REGULAR SESSION, EFFECTIVE APRIL 13, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. For the purposes of this chapter, the following terms shall have the following meanings: (1) ALABAMA TRUST FUND. The Alabama Trust Fund created by Amendment No. 450 to […]
Section 29-9-2.1 – New Recurring Revenue.
Section 29-9-2.1 New recurring revenue. For purposes of this chapter cited as “The Education Trust Fund Rolling Reserve Act”, and notwithstanding the provisions of Section 29-9-3(b)(4), the funds received by the Education Trust Fund under Act 2012-427 after September 30, 2012 totals $10,000,000 and shall be considered “New Recurring Revenue” as defined by Section 29-9-2 […]
Section 29-9-3 – Fiscal Year Appropriation Cap.
Section 29-9-3 Fiscal year appropriation cap. (a) Notwithstanding any other provision of law to the contrary, beginning with appropriations made for the fiscal year ending September 30, 2013, appropriations from the Education Trust Fund shall not exceed the fiscal year appropriation cap. (b) The fiscal year appropriation cap for the Education Trust Fund shall be […]
Section 29-9-4 – Education Trust Fund Budget Stabilization Fund; Education Trust Fund Advancement and Technology Fund.
Section 29-9-4 Education Trust Fund Budget Stabilization Fund; Education Trust Fund Advancement and Technology Fund. THIS SECTION WAS AMENDED BY ACT 2022-358 IN THE 2022 REGULAR SESSION, EFFECTIVE APRIL 13, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. There is hereby created in the State Treasury an Education Trust Fund Budget Stabilization Fund and […]
Section 29-9-5 – Withdrawals From Education Trust Fund Budget Stabilization Fund.
Section 29-9-5 Withdrawals from Education Trust Fund Budget Stabilization Fund. (a) Except as provided in Section 29-9-3 and in subdivision (b), amounts in the Education Trust Fund Budget Stabilization Fund may be withdrawn only to prevent proration in the Education Trust Fund. The Governor must certify to the state Comptroller and notify the Legislature that […]
Section 29-9-6 – Temporary Transfers Into Education Trust Fund.
Section 29-9-6 Temporary transfers into Education Trust Fund. THIS SECTION WAS AMENDED BY ACT 2022-358 IN THE 2022 REGULAR SESSION, EFFECTIVE APRIL 13, 2022. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. During the first six months of a fiscal year, the Director of Finance may temporarily transfer available funds in the Budget Stabilization Fund […]