2006 Alabama Code - Section 41-15A-12 — Source for matching funds; transfer procedure; limitation; cap.

(a) The state shall provide matching funds from the Education Trust Fund and the State General Fund for those monies that are deposited into the Penny Trust Fund during each fiscal year. At the beginning of each calendar year, the State Treasurer shall certify to the Director of Finance and the state Comptroller the amount of monies which have been deposited into the Penny Trust Fund during the preceding calendar year. At the end of the fiscal year, in which the certification is made, the state Comptroller shall transfer to the State Treasurer for deposit into the Penny Trust Fund an amount equal to the amount certified from the Education Trust Fund and an amount equal to the amount certified from the State General Fund. The annual budget act for the public schools and colleges and the general fund budget shall contain the appropriation for the Penny Trust Fund as required by this section, and the appropriation shall be styled as follows: "Penny Trust Fund." Matching funds shall be styled under the heading of the Penny Trust Fund as "Buskey Matching Funds." The Legislature may make additional appropriations which exceed the matching funds, and if included in either the Education Trust Fund annual budget act or the general fund budget, the funds which exceed the matching funds shall be transferred by the state Comptroller to the State Treasurer for deposit into the Penny Trust Fund. It shall be legal and permissible for the Legislature to also make appropriations from the Education Trust Fund in the annual budget act for the public schools for the development and printing of materials to promote the Penny Trust Fund in the public schools and colleges of Alabama. The appropriate chief executive officer of any employer as defined in Section 16-1-18.1 shall subsequently cause the materials to be distributed to the employees and students during the month of February or as provided in the annual budget act for public education. It shall also be legal and permissible for the Legislature to make appropriations from the State General Fund for the development and printing of materials to promote the Penny Trust Fund among all employees of the state. The promotional materials shall be transmitted to the state Comptroller after approval by the State Treasurer. The state Comptroller shall distribute to each payroll clerk in each department, agency, board, bureau, and other division of state government the requisite number of promotional materials and the payroll clerk shall distribute the promotional brochures to all employees in their first February paycheck annually in which the materials are made available. The matching funds shall be deposited into the Penny Trust Fund from each respective fund before any conditional funds are disbursed from the Education Trust Fund or the State General Fund.

(b) The transfer shall not be made if the transfer causes either the Education Trust Fund or the State General Fund to be prorated.

(c) The maximum amount of matching monies shall not exceed two million dollars ($2,000,000) from each fund.

(Acts 1993, No. 93-608, p. 990, §3(a)-(c); Act 99-592, p. 1352, §3.)