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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Financials

Rep. Jay Love files bill to pay back Alabama Trust Fund

Posted on 30 January 2013

Rep. Jay Love, R-Montgomery, has filed legislation that would require the state to pay back $437 million borrowed from the Alabama Trust Fund by 2026.
The legislation would establish benchmarks for repayment of the money, taken to shore up the state’s troubled General Fund, which pays for most noneducation funding in the state. About $145 million was transferred from the ATF into the General Fund for the current fiscal year; additional transfers are scheduled for FY 2014 and FY 2015………………………………………..Full Article: Source


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