The bill appropriates $1,176,157 from the Education Trust Fund to Talladega College in Alabama for the fiscal year ending September 30, 2025, aimed at supporting and maintaining the institution's educational programs. The appropriation is subject to the provisions of the Budget and Financial Control Act and the Budget Management Act of 1976, as outlined in the Code of Alabama 1975.
Before any funds are released, the college must submit an operations plan for fiscal year 2025, which includes measurable performance indicators, and an audited financial statement for fiscal year 2023. Additionally, the college is required to provide quarterly reports on expenditures and accomplishments, as well as an end-of-year performance report detailing the work accomplished and the costs incurred. The Director of Finance is responsible for approving these reports and forwarding them to the Legislative Council. The act is set to take effect on October 1, 2024.