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HB356
183263-1:n:03/01/2017:EBO-KB/mej HB356 By Representative Patterson RFD State Government Rd
1 02-MAR-17 SYNOPSIS: This bill would create an option for certain retirees of the Teachers'
Retirement System and the Employees' Retirement System to elect to receive a lump-sum cash
payment equal to and in lieu of a portion of his or her retirement allowance, not to exceed
50 percent. This bill would require the Director of Finance to certify to the Board of Control,
the Governor, and the presiding officer of each house of the Legislature whether or not available
funds are sufficient and economic conditions are satisfactory to support the financial viability
of the lump-sum retirement allowance option and would delay the offering of the option for
a period of 12 months if economic conditions do not support the viability of the lump-sum
option. This bill would also create the Alabama Pension Authority and would authorize the
authority to issue bonds to fund the lump-sum retirement allowance...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB356.htm - 122K - Match Info - Similar pages
SB321
183263-1:n:03/01/2017:EBO-KB/mej SB321 By Senator Hightower RFD Finance and Taxation Education
Rd 1 15-MAR-17 SYNOPSIS: This bill would create an option for certain retirees of the Teachers'
Retirement System and the Employees' Retirement System to elect to receive a lump-sum cash
payment equal to and in lieu of a portion of his or her retirement allowance, not to exceed
50 percent. This bill would require the Director of Finance to certify to the Board of Control,
the Governor, and the presiding officer of each house of the Legislature whether or not available
funds are sufficient and economic conditions are satisfactory to support the financial viability
of the lump-sum retirement allowance option and would delay the offering of the option for
a period of 12 months if economic conditions do not support the viability of the lump-sum
option. This bill would also create the Alabama Pension Authority and would authorize the
authority to issue bonds to fund the lump-sum retirement...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB321.htm - 122K - Match Info - Similar pages
SB59
181096-1:n:02/06/2017:EBO-KB/mej SB59 By Senator Ward RFD Judiciary Rd 1 07-FEB-17 SYNOPSIS:
This bill will be known as the Alabama Prison Transformation Initiative Act. This bill would
provide for the construction of four modern, efficient prison facilities to reduce overcrowding,
to improve safety conditions for corrections officers, to allow for additional inmate re-entry
programs and to improve operational practices and procedures. This bill would require increased
reporting to the Joint Legislative Prison Committee. Under existing law, the Alabama Corrections
Institution Finance Authority is authorized to issue bonds for prison construction purposes.
The Authority is required to construct facilities using plans and specifications of architects
or engineers, or both. This bill would also allow the Authority to construct women's and regional
prison facilities using various types of construction agreements. This bill would allow the
Authority to issue additional bonds with no...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB59.htm - 55K - Match Info - Similar pages
SB284
183291-2:n:03/07/2017:JMH/th LRS2017-1008R1 SB284 By Senators Orr and Smitherman RFD Judiciary
Rd 1 07-MAR-17 SYNOPSIS: Under existing law, the maximum rate of interest on a small loan
is three percent a month on amounts not more than $200 and two percent a month for amounts
in excess of $200, and the maximum term of the small loan is limited to 25 months. Under existing
law, in lieu of these interest rates, the lender may utilize an alternative rate of charge
that consists of an acquisition fee of up to 10 percent of the principal and a monthly installment
handling fee. Under existing law, the maximum term of a small loan on which the alternative
rate of charge may be utilized is 12 months. This bill would provide that the minimum term
for a small loan in which the lender is charging the alternative rate is six months. This
bill would prohibit the lender from collecting an additional acquisition charge if the loan
is refinanced within the first six months. Under existing law, the term...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB284.htm - 36K - Match Info - Similar pages
HB396
Rep(s). By Representative Treadaway HB396 ENROLLED, An Act, Relating to any Class 1 municipality
and the retirement and relief system for officers and employees of the municipality; to amend
Sections 45-37A-51.137, 45-37A-51.190, 45-37A-51.192, 45-37A-51.220, 45-37A-51.221, 45-37A-51.222,
45-37A-51.224, 45-37A-51.225, and 45-37A-51.228, Code of Alabama 1975, as amended by Act 2006-339,
2006 Regular Session, as amended by Act 2011-585, 2011 Regular Session, as amended by Act
2014-337, 2014 Regular Session; to amend the investment powers of the board of managers to
reduce the percent of investments required to be in fixed income securities; to delete certain
language requiring an increase in contribution under certain conditions from participants;
to amend and phase in the contribution rate of the municipality to the pension system to a
minimum of nine percent; to amend the normal retirement benefit for participants who first
become participants on or after July 1, 2017; to provide for a...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB396.htm - 38K - Match Info - Similar pages
HB450
184362-1:n:03/31/2017:PMG/mfc LRS2017-1316 HB450 By Representatives Greer, Pettus and Faust
RFD County and Municipal Government Rd 1 04-APR-17 SYNOPSIS: This bill would authorize a county
to establish an agriculture authority to promote agricultural businesses, operations, and
commodities, workforce development, and economic development within the county. This bill
would provide procedures for creating an agriculture authority. This bill would provide for
the composition, membership, terms of office, and duties of the board of directors of an agriculture
authority. This bill would authorize an agriculture authority to take steps necessary for
the planning and development of an agriculture center. This bill would authorize an agriculture
authority to acquire property by gift, grant, lease, purchase, or by the exercise of eminent
domain, to make and enter into contracts, to accept pledges of revenues or grants of money,
and to borrow money. This bill would authorize a county in which an...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB450.htm - 22K - Match Info - Similar pages
SB345
SB345 By Senator Melson ENROLLED, An Act, Relating to agriculture authorities; to authorize
a county to establish an agriculture authority to construct and operate facilities to promote
agricultural businesses, operations, and commodities, workforce development, and economic
development within the county; to provide procedures for creating an agriculture authority;
to provide for the composition, membership, terms of office, powers, and duties of the board
of directors of an agriculture authority; to authorize an agriculture authority to take steps
necessary for the planning and development of an agriculture center; to authorize an agriculture
authority to acquire property by gift, grant, lease, or purchase, or to make and enter into
contracts, to accept pledges of revenues or grants of money, and to borrow money; to authorize
a county in which an agriculture authority is established and any municipality in the county
to expend funds for the purposes of the authority; to authorize the...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/SB345.htm - 22K - Match Info - Similar pages
HB541
185277-1:n:04/13/2017:JMH/th LRS2017-1665 HB541 By Representative Johnson (K) RFD Financial
Services Rd 1 20-APR-17 SYNOPSIS: Under existing law, in a consumer credit transaction, a
creditor may offer and a debtor has the option to accept credit life and disability and involuntary
unemployment insurance for the term of the credit transaction. This bill would specify that
in addition to offering credit life and disability insurance and involuntary unemployment
insurance as single coverage, a creditor may offer it as joint coverage if credit is extended
to more than one party in a single transaction. A BILL TO BE ENTITLED AN ACT Relating to insurance;
to amend Section 5-19-20 of the Code of Alabama 1975, to provide further for the offering
of credit life and disability and involuntary unemployment insurance as part of a consumer
credit transaction. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:Section 1. Section 5-19-20
of the Code of Alabama 1975, is amended to read as follows: ยง5-19-20....
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB541.htm - 7K - Match Info - Similar pages
HB343
183080-2:n:03/01/2017:FC/mfc LRS2017-980R1 HB343 By Representative Martin RFD Financial Services
Rd 1 02-MAR-17 SYNOPSIS: Under existing law, guaranteed asset protection waivers are not regulated.
The term generally refers to an agreement or contract related to the financing of motor vehicles
which protect the borrower for the balance due on a loan when the motor vehicle is totalled
or stolen and the casualty insurance payment or other payments are not sufficient to cover
the total loan balance. This bill would specifically authorize guaranteed asset protection
waivers and regulate the transactions. The Superintendent of Banks would be granted authority
to assess a civil penalty for violations. A BILL TO BE ENTITLED AN ACT To specifically authorize
and regulate guaranteed asset protection waivers related to motor vehicle loans; to define
terms; to provide for enforcement and civil penalties by the Superintendent of Banks; and
for this purpose to add Chapter 37 to Title 8, Code of...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB343.htm - 12K - Match Info - Similar pages
HB72
181560-1:n:01/25/2017:JET/th LRS2017-370 HB72 By Representative Pringle RFD State Government
Rd 1 07-FEB-17 SYNOPSIS: This bill would establish the Alabama Cooperative Housing Corporation
Act of 2017, to regulate cooperatives, a form of ownership of real property in which legal
title is vested in a corporation or other entity, and the cooperative unit's occupants receive
an exclusive right to occupy the unit. This bill would require any cooperative housing corporation
formed after January 1, 2018, to organize under the Alabama Nonprofit Corporation Act, and
be subject to all the duties, requirements, obligations, rights, and privileges under the
act, and would require the filing of certain cooperative documents with the Secretary of State.
This bill would require the Secretary of State to implement and maintain an electronic database,
organized by cooperative name and accessible by the public through the Secretary of State's
website, with the capability to search and retrieve...
alisondb.legislature.state.al.us/alison/searchableinstruments/2017RS/bills/HB72.htm - 20K - Match Info - Similar pages
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