HB 526 Alabama House · 2025 Regular Session

Alabama 21st Century Fund, further distribution of funds, one-time appropriation to the Department of Commerce

HB 526 modifies the allowed uses and distribution of funds from the Alabama 21st Century Fund. It establishes that the Alabama 21st Century Authority must maintain a specific debt service reserve. Funds exceeding this reserve can be used for defined project costs and to pay debt service on certain bonds. Additionally, the bill authorizes a one-time transfer of $5,000,000 from the fund to the Alabama Department of Commerce for the fiscal year ending September 30, 2025. These funds are designated for establishing international offices, enhancing rural development strategies, and covering related operational and personnel costs.

Issues: ✓ Budget & Taxes

Bill status passed 3 of 5 stages cleared

Introduction

Apr 2025

Committee Review

Apr 2025

House Passage

Apr 2025

Senate Passage

Governor

Introduced Apr 3, 2025 Last action Apr 24, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Engrossed · 5 edits · Apr 15, 2025

MODERATE

This bill was amended to clarify how the Alabama 21st Century Fund can be used, update fiscal year retention amounts, and specify a one-time transfer of $5 million to the Alabama Department of Commerce for international offices and rural development. The changes also correct a typo in the fund's legal name and adjust the timing of when certain funds must be retained for debt service.

Scope change

The bill's scope was expanded to explicitly allow excess fund revenues to pay debt service on bonds issued by the State Industrial Development Authority, in addition to the Alabama 21st Century Authority's own obligations.

FISCAL

Updated the amount retained in the Alabama 21st Century Fund for fiscal years 2018 and thereafter from $16 million to $16 million, but clarified the language to ensure it is used for debt service on bonds issued by the authority.

Added a specific provision allowing excess funds in the Alabama 21st Century Fund to be used to pay debt service on bonds issued by the State Industrial Development Authority.

Specified a one-time transfer of $5 million from the Alabama 21st Century Fund to the Alabama Department of Commerce for fiscal year 2025 to establish international offices and enhance rural development strategies.

TECHNICAL

Corrected a typo in the fund's legal name from 'citizensresidents' to 'citizens and residents'.

Revised the fiscal year retention table to align with updated language regarding debt service obligations and fund retention requirements.

Floor votes

How they voted

This bill passed the House by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 23, 2025

Upper · Passed

Reported Out of Committee Second House

upper

Apr 17, 2025

Upper · Passed

Pending Committee Action in Second House (Finance and Taxation General Fund)

upper

Apr 15, 2025

Lower · Passed

Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 835

lower

Apr 15, 2025

Lower · Passed

Motion to Adopt - Adopted Roll Call 834

lower

Apr 15, 2025

Introduced

Ways and Means General Fund Engrossed Substitute Offered (Ways and Means General Fund)

lower

Apr 9, 2025

Lower · Passed

Reported Out of Committee House of Origin (Ways and Means General Fund)

lower

Apr 9, 2025

Introduced

Ways and Means General Fund 1st Amendment (Ways and Means General Fund)

lower

Apr 3, 2025

Lower · Passed

Pending Committee Action in House of Origin (Ways and Means General Fund)

lower

1 primary · 0 co-sponsors