Trust Fund bill
Wed February 20, 2013
Ala. Legislature Approves Bill to Repay Savings
The Alabama House has given final passage to a bill that requires full repayment of money transferred from an oil and gas revenues savings account to the state's General Fund budget.
The House voted 90-0 Thursday to approve an amendment put on in the Senate that requires repayment of the money even if the Legislature doesn't appropriate the funds.
An amendment to allow the state to take the money from the Alabama Trust Fund and use it for the cash-strapped General Fund budget was approved by voters in September. Before voters decided on the amendment, Bentley and some legislators promised the money would be repaid.
Bentley said he will make good on his promise to voters by signing the bill into law at 1 p.m. Wednesday at the Capitol.
Copyright 2013 The Associated Press.