Alabama 2023 Regular Session

Alabama House Bill HB114

Introduced
3/21/23  
Refer
3/21/23  
Report Pass
4/5/23  
Report Pass
4/5/23  
Engrossed
4/12/23  
Refer
4/12/23  
Report Pass
4/18/23  
Report Pass
4/18/23  
Enrolled
4/25/23  

Caption

Relating to fiduciary funds in the hands of officials; to amend Section 19-3-87, Code of Alabama 1975, to provide for disposition of unclaimed funds held in a county treasury after being unclaimed for a certain number of years; and to amend Section 35-12-73, Code of Alabama 1975, to exempt unclaimed funds under Section 19-3-87, Code of Alabama 1975.

Impact

The bill's amendments to Sections 19-3-87 and 35-12-73 of the Code of Alabama 1975 represent a significant shift in how unclaimed funds are handled. By amending the conditions under which unclaimed funds can be forfeited and opening a pathway for their allocation towards infrastructure projects, this legislation promotes fiscal responsibility within local governments. Additionally, it enhances the potential for better fund usage for community development, addressing both financial and infrastructural needs in Alabama counties.

Summary

House Bill 114 aims to amend provisions regarding unclaimed funds in Alabama's county treasuries, specifically focusing on the process and timeframes for the disposition of such funds. Under the bill, if funds remain unclaimed in a county treasury for a period of ten years, the rights to these funds will be forfeited and transferred to the county. The funds are then designated for specific purposes, including the maintenance, repair, and construction of roads and bridges throughout the county. This provision is intended to address idle funds and ensure they contribute to public infrastructure needs.

Sentiment

The sentiment regarding HB 114 appears to be largely supportive within the legislative discussions. Members of the committee talk about the need to put unclaimed funds to use for local development rather than allowing them to languish without purpose. However, it is possible that there are opposing viewpoints concerned about the implications for individuals who may still have legitimate claims on such funds long after they have been allocated. However, these discussions are not prominently reflected in the bill's voting history.

Contention

Notable points of contention may arise from concerns about the notification process outlined in the bill, particularly regarding how counties will inform the public of unclaimed funds' impending forfeiture. The requirement for counties to publish notices both online and in local newspapers aims to foster transparency and allow rightful claimants a fair chance to recover their funds. However, critics could argue that the provisions for notice may not reach all individuals entitled to the funds, thus raising ethical questions about due process and access to information.

Companion Bills

No companion bills found.

Similar Bills

CA AB1853

San Joaquin Regional Transit District: meetings: surplus money investments.

PA SB1057

Providing for the Educational Freedom Act Program; and establishing the Educational Freedom Act Fund and educational freedom accounts.

PA SB795

Establishing the Pennsylvania Award for Student Success Scholarship Program.

US HB3552

United States Secret Service Mission Improvement and Realignment Act of 2023

OK HB1004

General appropriations; effective date.

PA SB10

Establishing the Pennsylvania Award for Student Success Scholarship Program and the Pennsylvania Award for Student Success Scholarship Fund.

PA HB1422

In preliminary provisions, providing for advertising and sponsorships; in charter schools, further providing for definitions and for funding for charter schools, providing for funding for cyber charter schools, for cyber charter school requirements, for powers and composition of board of trustees and for educational management service providers, further providing for powers and duties of department and for assessment and evaluation, providing for annual reports and public reporting and for fund balance limits, further providing for cyber charter school requirements and prohibitions and for school district and intermediate unit responsibilities, providing for access to other schools' facilities, further providing for establishment of cyber charter school, providing for renewals, for charter amendments and for causes for nonrenewal, revocation or termination, further providing for State Charter School Appeal Board review, for cyber charter school application and for enrollment and notification, providing for enrollment parameters and for enrollee wellness checks and further providing for applicability of other provisions of this act and of other acts and regulations.

OK HB2766

General appropriations; various agencies, authorities, boards, bureaus, commission, funds and programs; effective date.