Representative proposes plan to pay back trust fund - WAFF-TV: News, Weather and Sports for Huntsville, AL

Representative proposes plan to pay back trust fund

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Under his plan, the full amount would be restored by 2026. Under his plan, the full amount would be restored by 2026.
MONTGOMERY, AL (WAFF) -

Back in September, voters approved taking $437-million from the Alabama trust fund to cover emergency needs. One lawmaker has a plan to pay it back.

State Representative Jay Love unveiled his proposal Wednesday afternoon in Montgomery.

Under his plan, the full amount would be restored by 2026.

Love said additional savings over the next few years should clear the way for those funds to be freed up.

"State government is not a speed boat that can be turned around very quickly. It's an aircraft carrier that takes a while to turn around, and we put those reforms in place," said Love. "We've got more reforms coming that will benefit the taxpayers. It just takes a while to get that through the system."

The state is actually working to pay off two different accounts. The education trust fund is also paying back the rainy day fund it borrowed from several years ago to the tune of about $420-million.

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