Under existing law, the Alabama Corrections Institution Finance Authority is authorized to issue seven hundred eighty-five million dollars ($785,000,000) in bonds, as necessary, to implement a prison modernization plan in a phased approach to replace existing bed space in Department of Corrections facilities through the construction of specific new facilities and the renovation and improvement of existing facilities. This bill would allow the authority to increase the amount of bonds issued to implement the existing prison modernization plan to a total of one billion two hundred eighty-five million dollars ($1,285,000,000).

Statutes affected:
Introduced: 14-2-12