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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration

Bill would require repayment of Alabama Trust Fund money

Posted on 09 August 2012

Voters will decide Sept. 18 whether to approve the transfer of $437 million from the Alabama Trust Fund to shore up the state’s troubled General Fund. A state senator has drafted a bill that would require Alabama to pay that money back.
The legislation, sponsored by Sen. Bryan Taylor, R-Prattville, would require the state replenish the money removed from the Trust Fund – a repository for oil and gas revenues – within 10 years………………………………………..Full Article: Source


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