Most Active Stories
- Equality in Alabama? Same-Sex Marriage Reactions
- Alabama Universities Receive Accreditation Warning
- Same-Sex Marriage couples having trouble getting marriage licenses, Veteran honored in Sylacauga
- Alabama's Reaction to U.S. Supreme Court's ruling on Same Sex Marriage, Child Care sickness suits
- Tama the Stationmaster Cat
State Paying Debt
Fri September 27, 2013
Alabama Pays Majority Of Rainy Day Fund Debt
Gov. Robert Bentley says the state is about to repay the majority of a big debt it owes.
He said Friday the state will repay $260 million to the Rainy Day Fund for public schools in the next few days. He says the repayment is a sign the economy is picking up in Alabama, including the collection of more income and sales taxes.
The state's Rainy Day Fund was empty when Bentley came into office because $437 million had been removed to shore up the state education budget during the recession in 2009. State law required the repayment of the money by Sept. 30, 2015.
Bentley says $14.4 million was repaid last year, and the state is on schedule to repay the remaining money on time without raising taxes.