FISCAL NOTE

House Bill 138 as introduced appropriates $1,283,283,616 from the Education Trust Fund (ETF) for the fiscal year ending September 30, 2022, as follows:

* $177,373,600 to the State Treasurer’s Office for the PACT Program;

* $37.2 million to the Teachers’ Retirement System for a one-time bonus for retirees of the Teachers’ Retirement System;

* $651,528,556 to the ETF Advancement and Technology Fund;

* $60 million to State Board of Education – Local Boards of Education for TEAMS Fund;

* $1.25 million to Department of Commerce for ALEX: The Alabama Experience at the World Games and to support workforce efforts;

* $5.25 million to the Marine Environmental Sciences Consortium of which: (1) $4 million for student dormitories renovations; (2) $500,000 for HVAC, food storage systems, and cafeteria serving line modernizations; and (3) $750,000 for replacement of a graduate student office/K12 computer laboratory building;

* $7 million to the Geological Survey to construct a new Core and Sampling Repository Building;

* $1 million to the Department of Veterans’ Affairs for renovation of the Veteran’s Museum in Athens;

* $1.5 million to the Fire Fighters Personnel Standards and Education Commission/Alabama Fire College for a new building for tractor-drawn training props;

* $200 million to the ETF Debt Service Sinking Fund to be used for existing debt service;

*$30 million to the Alabama Innovation Fund of which: (1) $15 million for Hudson Alpha; and (2) $15 million for Southern Research Institute; and

* $111,181,460 to the ETF Budget Stabilization Fund.