FN-TBUYI59-2
Page 1
FISCAL NOTE
House Bill 526
Committee: Ways and Means General FundSponsor: Representative Chip Brown
Analyst: Jennifer Farish Date: 04/09/2025
House Bill 526 as reported by the Committee on Ways and Means General Fund would allow
funds in the Alabama 21st Century Fund not needed to pay obligations of the Alabama 21st
Century Authority to be used to pay: (1) project and project costs, (2) debt service on bonds
issued by the Alabama Incentives Financing Authority, and (3) a one-time transfer of $5 million
from the Alabama 21st Century Fund to the Department of Commerce for the establishment of
international offices, enhancement of rural development strategies, and to cover operational and
personnel costs.
This bill would also require the authority to maintain no less than 1.3 times the maximum
annual debt service payable on all authority obligations, if amounts in the special fund are no
longer needed to pay obligations of the authority, and allow the authority to use funds in any
manner consistent with this article under certain conditions.
As of March 2025, the Alabama 21st Century Fund had a balance of $74 million.