SB100INTRODUCED
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SB100
HQPA388-1
By Senators Chesteen, Melson, Stutts
RFD: Education Policy
First Read: 14-Feb-24
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5 HQPA388-1 01/24/2024 JB (F)ma 2023-3743
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First Read: 14-Feb-24
SYNOPSIS:
Under existing law, the Board of Medical
Scholarship Awards grants scholarships and makes loans
to medical students.
This bill would create the Board of Medical
Scholarship Awards Fund in the State Treasury, require
monies received by the board from the repayment of
loans, fees, donations, grants, and bequests to be
deposited in the fund and continuously appropriate the
fund for granting scholarships and making loans to
medical students.
A BILL
TO BE ENTITLED
AN ACT
Relating to the Board of Medical Scholarship Awards; to
amend Section 16-47-123.1, Code of Alabama 1975; to create the
Board of Medical Scholarship Awards Fund in the State Treasury
and continuously appropriate the fund for granting
scholarships or making loans to medical students.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. Section 16-47-123.1 of the Code of Alabama
1975, is amended to read as follows:
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1975, is amended to read as follows:
"ยง16-47-123.1
(a) The Board of Medical Scholarship Awards Fund is
hereby created in the State Treasury. All monies received by
the board pursuant to Section 16-47-125 or Section 16-47-127
and from fees, gifts, donations, grants, and bequests shall be
deposited in the fund and are continuously appropriated for
granting scholarships or making loans to medical students.
(b) The board shall establish the fiscal requirements
for its annual administration expenses, which may be paid from
funds from any source which are available to the board."
Section 2. The provisions of this act are declaratory
of, and do not constitute a change in, existing law.
Section 3. This act shall become effective on October
1, 2024.
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