FISCAL NOTE

Senate Bill 215 as substituted and reported by the Committee on Urban and Rural Development would establish the "Alabama Digital Expansion Authority" governed by an eleven-member board to oversee the expansion and availability of high-speed broadband services throughout the state, including the administration a broadband accessibility grant program and would create the Alabama Digital Expansion Division within the Alabama Department of Economic & community Affairs (ADECA), which would increase the obligations of ADECA by an undetermined amount to hire a division chief and additional staff of the division dependent on the compensation set for these employees.

Additionally, this bill establishes the Connect Alabama Fund for the deposit of appropriations from the Legislature, and any gifts, grants, and other donations for the use by the Division and provides that any funds appropriated that are unspent at the end of the fiscal year may be carried over for use by the program in the next fiscal year.

Finally, this bill creates the nine-member Alabama Digital Finance Corporation and authorizes the Corporation to issue bonds in an amount not to exceed $250 million in any fiscal which shall not constitute an obligation or debt of this state.