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| URL: | http://alisondb.legislature.state.al.us/alison/searchableins truments/2016rs/bills/HB173.htm |
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| Modified: | 2016-02-09 16:48:42 |
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| Title: | HB173 |
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| Body: | 165916-2:n:03/18/2015:JET/th LRS2015-1106R1 HB173 By Representatives Sessions, Gaston, Wilcox, Williams (JW), Buskey, Clarke and Drummond RFD Ways and Means General Fund Rd 1 09-FEB-16 SYNOPSIS: This bill would create the Alabama Gulf Coast Sand Restoration Trust Fund to be administered by the Department of Conservation and Natural Resources. This bill would require that funds received by the state derived from the sale of certain sand in Alabama waters would be deposited into the trust fund and would provide for the distribution of interest to Mobile County for the maintenance and preservation of waterways and beaches. A BILL TO BE ENTITLED AN ACT To create the Alabama Gulf Coast Sand Restoration Trust Fund; to provide for administration of the fund; to authorize investment of funds; to specify distribution of interest earned; and to specify that funds would not revert to the General Fund or any other fund. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. (a) There is hereby created in the State Treasury a trust fund to be known as the Alabama Gulf Coast Sand Restoration Trust Fund. The trust fund shall be administered by the Department of Conservation and Natural Resources. (b) Notwithstanding Section 9-15-53, Code of Alabama 1975, funds received by the state derived from the sale of sand from two deposits located in Alabama waters 2.5 miles offshore in the Gulf of Mexico at the west end of Dauphin Island shall be deposited into the fund. (c) The State Treasurer shall invest the funds in the trust fund. All interest earned on the investment of money in the trust fund shall be credited to the trust fund and shall be distributed by the department to Mobile County to further provide for the maintenance and preservation of Mobile County waterways and beaches. (d) Money contained in the trust fund at the end of any year shall not revert to the General Fund or any other fund in the State Treasury but shall remain in the trust fund. Section 2. This act shall become effective immediately following its passage and approval by the Governor, or its otherwise becoming law. Water and Waterways Conservation and Natural Resources Department Beaches Environment State Parks State Lands Division |