The bill proposes the transfer of $500,000,000 from the Educational Opportunities Reserve Fund for the fiscal year ending September 30, 2026. Specifically, it allocates $399,150,000 to the Renewing Alabama's Investment in Student Excellence (RAISE) Fund and $100,850,000 to the College and Higher Education Excellence and Results (CHEER) Fund. This transfer is made notwithstanding Section 29-9-4 of the Code of Alabama 1975, which typically governs such financial transactions.

Additionally, the bill stipulates that the funds allocated to the CHEER Fund are contingent upon the enactment of either House Bill 565 or Senate Bill 344 during the 2026 Regular Session. The act is set to take effect immediately upon passage and approval by the Governor or upon becoming law through other means. There are no deletions or modifications to existing legal language noted in the bill.

Statutes affected:
Introduced: 29-9-4, 16-13-362
Engrossed: 29-9-4, 16-13-362