SB 62 Alabama Senate · 2026 Regular Session

Alabama Charter School Finance Authority, bonding authority established, legislative findings, board membership, powers, contracts, investments

This bill establishes an Alabama Charter School Finance Authority and grants it bonding authority to manage financial operations for charter schools. It creates a board with specific powers to enter contracts and make investments on behalf of the authority. The legislation also provides immunity from lawsuits for the authority's members, officers, and employees when acting within their official duties, except in cases of intentional, willful, or wanton misconduct. This protection applies to claims involving property damage, personal injury, or other civil liabilities arising from their official actions.

Issues: ✓ Education

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

Senate Passage

Feb 2026

House Passage

Apr 2026

Signed into Law

Apr 2026

Introduced Jan 13, 2026 Signed Apr 17, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed → Enrolled · 4 edits · Apr 17, 2026

MODERATE

The bill was finalized into its enrolled version, which includes substantive policy changes to the Alabama Charter School Finance Authority Act. The most significant addition is a new requirement that loan recipients must secure loan payments from a dedicated revenue source, replacing the previous language that only required them to maintain such a source. Additionally, the definition of 'project' was expanded to include a comprehensive list of specific facility types, such as dormitories, dining halls, and libraries, ensuring clarity on what assets can be financed.

Scope change

The scope of the bill was expanded by explicitly listing numerous types of facilities eligible for financing under the 'project' definition and adding a stricter financial requirement for loan repayment.

REQUIREMENT

Added a mandatory requirement that state charter educational institutions receiving financing loans must secure the payment of those loans out of a dedicated source of revenue.

DEFINITION

Expanded the definition of 'project' to explicitly include a wide range of facilities, such as dormitories, dining halls, student unions, and athletics facilities, clarifying what assets qualify for funding.

Reformatted the definitions section to use a consistent indentation style for the list of terms.

TECHNICAL

Updated the bill's bill number from U9E1CDD-2 to U9E1CDD-3 to reflect its final enrolled status.

Floor votes

How they voted

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

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Apr 8, 2026

Lower · Passed

Motion to Read a Third Time and Pass - Adopted Roll Call 1295

lower

Feb 19, 2026

Lower · Passed

Reported Out of Committee Second House

lower

Feb 5, 2026

Lower · Passed

Pending Committee Action in Second House (Ways and Means Education)

lower

Feb 5, 2026

Upper · Passed

Motion to Read a Third Time and Pass as Amended - Adopted Roll Call 258

upper

Feb 5, 2026

Upper · Passed

Orr motion to Adopt - Adopted Roll Call 257

upper

Feb 5, 2026

Introduced

Finance and Taxation Education 1st Amendment Offered (Finance and Taxation Education)

upper

Jan 28, 2026

Upper · Passed

Reported Out of Committee House of Origin

upper

Jan 28, 2026

Introduced

Finance and Taxation Education 1st Amendment (Finance and Taxation Education)

upper

Jan 13, 2026

Upper · Passed

Pending Committee Action in House of Origin (Finance and Taxation Education)

upper

1 primary · 0 co-sponsors