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FISCAL NOTE
House Bill 526
Committee: Finance and Taxation General FundSponsor: Representative Chip Brown
Analyst: Jennifer Farish Date: 04/22/2025
House Bill 526 as passed the House of Representatives 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.