Committee: Finance and Taxation General FundSponsor: Ledbetter
Analyst: Vee MoselyDate: 04/20/2021

FISCAL NOTE

House Bill 565 as amended and reported by the Finance and Taxation General Fund proposes a constitutional amendment which, if ratified, would allow the Alabama State Parks Enhancement Authority to issue up to $80 million in general obligation bonds to be used for acquisition, construction, equipping, improvement, maintenance, provision, and renovation of Alabama state parks under the jurisdiction of the Department of Conservation and Natural Resources and up to $5 million in obligations to be used for public historical sites and public historical parks under the jurisdiction of the Alabama Historical Commission. Further, this bill would provide that bond proceeds in excess of $85 million would be allocated to the Alabama Forestry Commission for the capital improvement, renovation, equipping, acquisition, provision, construction, and maintenance of state forests.

This constitutional amendment will increase debt service payments from the State General Fund by an estimated $6 million annually over a 20-year period beginning with fiscal year 2023.

In addition, this constitutional amendment will increase the proclamation expenses of the Governor, paid from the State General Fund, by an estimated $100,000 for the fiscal year ending September 30, 2022.


 Greg Albritton, Chairperson
Finance and Taxation General Fund