The bill proposes an appropriation of $36,635,222 from the Children First Trust Fund for the fiscal year ending September 30, 2027, to various designated entities as outlined in Section 41-15B-2.2 of the Code of Alabama 1975. It mandates that all tobacco settlement revenues be deposited into the Children First Trust Fund within 30 days of receipt and requires the State Director of Finance to provide written notifications of anticipated agency allocations. Additionally, the bill stipulates that allocations are contingent upon the availability of tobacco revenues and outlines a quarterly allocation process for the respective agencies. It also includes a provision for transferring a portion of the Children First Trust Fund receipts currently allocated for the State Board of Education to the State General Fund during the fiscal year 2027.

Furthermore, the bill appropriates an additional $43,789,530 from other tobacco settlement funds for the same fiscal year, with allocations designated for various entities, including the Department of Early Childhood Education and the Alabama Medicaid Agency. It establishes conditions for any additional tobacco revenues, requiring recommendations from the Director of Finance and approval from key legislative leaders and the Governor. The bill emphasizes the need for a plan of investment for each agency receiving funds, which must include quality assurance measures and reporting requirements to ensure effective use of the appropriated funds. The act is set to take effect immediately upon passage and approval by the Governor.

Statutes affected:
Introduced: 41-15B-2, 41-15B-2
Enrolled: 41-15B-2