FISCAL NOTE

House Bill 565 as amended and reported by the Committee on Ways and Means 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 system under the jurisdiction of the Department of Conservation and Natural Resources. Further, this bill would provide that bond proceeds in excess of $80 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 $5.5 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.