The bill proposes the transfer of up to $455,000,000 from the Education Opportunities Reserve Fund for the fiscal year ending September 30, 2025. Specifically, it allocates $375,000,000 to the Renewing Alabama's Investment in Student Excellence (RAISE) Fund and up to $80,000,000 to the Creating Hope and Opportunity for Our Students' Education (CHOOSE) Act Fund. The transfer to the RAISE Fund is contingent upon the enactment of either House Bill 533 or Senate Bill 305 from the 2025 Regular Session.

Additionally, the bill stipulates that any unallocated funds from the CHOOSE Act Fund for Education Savings Accounts by October 1, 2025, will revert back to the Education Opportunities Reserve Fund. It also specifies that any unspent amounts from these accounts for qualified educational expenses by the end of the 2025-2026 academic year will similarly revert to the Reserve Fund. The act is set to take effect immediately upon passage.

Statutes affected:
Enrolled: 29-9-4, 29-9-4