FISCAL NOTE

Senate Bill 296 as passed the Senate proposes a Constitutional Amendment, which if ratified, would specify that a county or municipality is exempt from the provisions of Section 222 of the Constitution of Alabama of 1901, that prohibits the issuance of bonds by a county or municipality without authorization by the qualified voters of the county, city, town, or other political subdivision of a county voting upon such proposition, unless issuing general obligation bonds establishing a requirement for repayment.

This amendment could 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, 2023.