Alabama Trust Fund

Alabama Debt Repayment
3:44 pm
Thu October 2, 2014

Alabama Repaying $70 Million In Debt

Gov. Robert Bentley announced Thursday that the state will repay $70 million to the Alabama Trust Fund from fiscal 2014 revenue.
Credit The Governor's Office

Alabama is whittling down the debt it owes to a state trust fund for money borrowed during the recession.

Gov. Robert Bentley announced Thursday that the state will repay $70 million to the Alabama Trust Fund from fiscal 2014 revenue. Half of that was required by state law, and the other half became available because of extra revenue the state received.

Read more
BP Money-Trust Fund
3:56 pm
Wed March 13, 2013

Bill To Repay Trust Fund Moves To Senate Floor

The Ala. Senate will debate a bill that would use BP settlement money from the 2010 Gulf Oil Spill to repay the Ala. Trust Fund.
Credit The Associated Press

Although it's unclear how much money Alabama may gain from the BP settlement, state lawmakers are making plans on how to use it.


A proposal passed Wednesday to allow the full Senate to debate using funds from BP oil spill lawsuits to repay the Alabama Trust Fund.


The Senate Committee for Finance and Taxation-General Fund voted 7-1 in favor of the measure. If passed, the measure would restore financing to the Rainy Day Fund.

Read more
Trust Fund Payback
7:29 pm
Wed February 20, 2013

Ala. Governor Signs Law To Repay Trust Fund

Gov. Bentley signed a bill today that mandates repaying the Alabama Trust Fund by 2026.
Credit http://governor.alabama.gov / Office of the Governor

Gov. Robert Bentley and legislative leaders kept a promise Wednesday to enact legislation requiring the repayment of $437 million taken from a state trust fund to bolster state budgets.

Bentley signed a bill passed by the Legislature that mandates the repayment to the trust fund through annual appropriations concluding in 2026. The bill was the first passed by the Legislature in the current session.

Read more
Trust Fund bill
6:53 am
Wed February 20, 2013

Ala. Legislature Approves Bill to Repay Savings

Alabama Governor Robert Bentley says he'll make good on his promise to voters and sign legislation that requires full repayment of money transferred from the Alabama Trust Fund to the General Fund Budget.
AP Photo/Alabama Governor's Office, Jamie Martin

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.

Read more
Legislature-Payback Bill
4:36 pm
Thu February 7, 2013

Ala. House Oks Bill To Repay Money To ATF

The Alabama House has passed a bill that require repayment of $437 million that voters allowed to be transferred from a state savings account.
Credit Trance Mist / Flickr

The Alabama House has voted to require repayment of $437 million that voters allowed to be transferred from a state savings account by 2026.


The House voted 80-19 Thursday for the bill by Republican Rep. Jay Love of Montgomery. It was the first bill passed by the House during the 2013 regular session.

Read more
September Referendum
5:11 pm
Wed September 19, 2012

Gov. Bentley Succeeds Where Predecessors Failed

Governor Bentley succeeds where previous two governors failed.
governor.alabama.gov Office of the Governor

Gov. Robert Bentley has done something neither of Alabama's last two governors could do: Get voters to turn out in a special election to pass a major initiative defining their administrations.


Bentley said the constitutional amendment withdrawing money from the Alabama Trust Fund didn't involve moral issues like Gov. Don Siegelman's lottery vote in 1999 or tax increases like Gov. Bob Riley's $1.2 billion tax plan in 2003.

Read more
Voter Turnout
4:46 pm
Wed September 19, 2012

22 Percent Turnout For Alabama Special Election

22 percent of Alabama's voters turned out for the September 18th budget referendum.

About 22 percent of Alabama's voters turned out to approve a constitutional amendment withdrawing $437 million from a state trust fund to help balance the state General Fund budget for the next three years.

Unofficial returns compiled by The Associated Press show about 600,000 of Alabama's 2.67 million voters participated in Tuesday's special election, and they approved the constitutional amendment 65 percent to 35 percent.

September Referendum
4:39 pm
Wed September 19, 2012

Alabama Voters Approve Budget Proposal 2-To-1

Alabama voters have passed a constitutional amendment to balance the state budget.
Vox Efx Flickr

Alabama voters have decided by a 2-to-1 margin to support the withdrawal of $437 million from a state trust fund to help balance the General Fund budget for the next three years.

Gov. Robert Bentley called it a temporary funding bridge to maintain essential state services while state officials work on right-sizing government.

Read more
September Referendum
4:44 pm
Tue September 18, 2012

Turnout Light For Alabama's $437 M Referendum

Turnout for the constitutional amendment vote has been light.

Election officials say the turnout for Alabama's single-issue election is light.

Voters are deciding Tuesday whether to take $437 million out of a state trust fund to help balance the state General Fund budget for the next three years.

Pike County Probate Judge Wes Allen says the turnout in his south Alabama county could end up between 10 and 13 percent. Election officials in other counties say turnout picked up when the rain stopped, but it's still going to be small.

Read more
September Budget Referendum
3:53 pm
Fri September 14, 2012

Alabamians To Vote On Amendment to Balance the General Fund Budget

Voters head to the polls Sept. 18th to vote on a constitutional amendment to balance the state's General Fund budget.
Trance Mist Flickr

The Alabama Nursing Home Association is proud of the fact that at least one nursing home is available in every county in the state. But if the budget referendum taking place tomorrow fails that effort could be in danger. John Matson is a spokesman for the Alabama Nursing Home Association. He says a vote of "no" tomorrow could spell deep cuts on the horizon.

Read more
Sept. Budget Referendum
5:10 pm
Thu September 13, 2012

Critics Urge 'No' Vote On Sept. 18 Ala. Referendum

Protestors are encouraging people to vote "no" on the Sept. 18 budget referendum.

About 50 people gathered on the steps of the Alabama Capitol to urge residents to vote "no" Tuesday on a constitutional amendment to allow the transfer of $437.4 million from the Alabama Trust Fund to be used for Medicaid, prisons and other state services.

Holding signs urging voters to not "bust" the trust fund, the demonstrators Thursday listened to representatives of grassroots groups who said the principle from the fund, established by former Gov. Fob James, was never meant to be spent.

Read more
Politics & Government
8:49 am
Wed September 5, 2012

Friday Deadline to Register to Vote in Alabama

Friday is the deadline to register to vote in Alabama's constitutional amendment referendum on Sept. 18.

Secretary of State Beth Chapman says citizens can register at their local board of registrars or they can fill out forms at state and county offices that provide public assistance, such as the state Department of Human Resources. She says forms are also available when obtaining or renewing a driver's license.

Chapman is also reminding voters that Thursday, Sept. 13 is the last day to apply for an absentee ballot for the referendum.

Read more
September Referendum
4:32 pm
Thu August 23, 2012

Alabama Trust Fund Not Taking Stand On $437M Vote

Gov. Bentley did not ask the Ala. Trust Fund Board to take a position on the Sept. 18 referendum.
http://governor.alabama.gov Office of the Governor

The board that oversees the Alabama Trust Fund is not taking a position on whether voters should approve taking more than $437 million out of the fund to help operate state government.


The board chairman, Gov. Robert Bentley, said he did not ask the board to take a position during a meeting Thursday because the board manages the $2.3 billion fund, but it's up to voters to decide the issue in a statewide referendum Sept. 18.

Read more
Balancing The Budget
4:53 pm
Tue August 21, 2012

Ala. Governor: Pay Back $146 M To Trust Fund

Gov. Bentley and legislative leaders say they are committed to repaying money taken out of Ala. Trust Fund if voters say yes on Sept. 18.
Sutherland Boswell Wikimedia Commons

Gov. Robert Bentley says he and legislative leaders are committed to paying back the money if Alabama voters agree to take more than $437 million from a state trust fund to balance the state General Fund budget for three years.

Read more