Alabama Legislature special session produces an approved General Fund Budget

Late Wednesday the Alabama House and Senate gave final approvals to a General Fund Budget, ending four months of uncertainty for many state agencies and the citizens that receive those services. With just two weeks left before the beginning of the fiscal year, state government looks to be on track to continue work and lawmakers […]

Late Wednesday the Alabama House and Senate gave final approvals to a General Fund Budget, ending four months of uncertainty for many state agencies and the citizens that receive those services. With just two weeks left before the beginning of the fiscal year, state government looks to be on track to continue work and lawmakers can go home knowing they fulfilled their constitutional duties for the year.

The budget approved by both houses is a mixture of new revenue, budget reform, and cuts because not all of Gov. Robert Bentley’s proposed revenue measures made it through the entire legislative process. Below is a list of actions taken by the Legislature to craft the General Fund Budget:

  • A cigarette tax of 25 cents per pack that is estimated to bring in around $70 million
  • The permanent transfer of a portion of the Use Tax from the Education Trust Fund to the General Fund that should total $80 million for this fiscal year
  • Two new provider taxes that involved nursing homes and pharmacies that would generate close to $16 million

This budget level funds the state’s largest five agencies, provides increases for corrections and prison reform, and cuts other agencies by a small percentage.

While Gov. Bentley has not signed the budget, it is expected that he will do so as soon as he and his staff have the opportunity to review it in its entirety. The next regular session of the legislature is set to begin in February 2016.

Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.