FISCAL NOTE

Senate Bill 191 (Act 2022-255) as enacted appropriates $97,943,015 from the American Rescue Plan Act – State Small Business Credit Initiative Fund to the Department of Finance for the fiscal year ending September 30, 2022. This act provides that these funds may be delegated through memoranda of agreement to the Alabama Innovation Corporation or other designated entity.

This act also provides that any amount of this appropriation remaining unexpended on September 30, 2022, shall be reappropriated to the Department for the same purpose for fiscal year 2023, and for all fiscal years thereafter.