Alabama legislation · 2026 Regular Session
Alabama SB62: Alabama Charter School Finance Authority, bonding authority established, legislative findings, board membership, powers, contracts, investments
Status: Signed into law, April 17, 2026
What the bill says
An Act, To provide for the establishment of the Alabama Charter School Finance Authority; to permit the authority to issue bonds for the purpose of making financing loans to state charter educational institutions to finance and refinance project costs; and to require each state charter educational institution that receives a financing loan to maintain a dedicated source of revenue to repay such financing loans.
From the enrolled text:
An Act, To provide for the establishment of the Alabama Charter School Finance Authority; to permit the authority to issue bonds for the purpose of making financing loans to state charter educational institutions to finance and refinance project costs; and to require each state charter educational institution that receives a financing loan to maintain a dedicated source of revenue to repay such financing loans. BE IT ENACTED BY THE LEGISLATURE OF ALABAMA: Section 1. This chapter may be cited as the Alabama Charter School Finance Authority Act. Section 2. It is the intent of the Legislature by passage of this chapter to enable the state, acting by and through the authority, to aid state charter educational institutions in the financing and refinancing of project costs on a tax-exempt basis. To this end, the Legislature intends to authorize the authority to issue bonds for the purpose of providing funds to enable the authority to make loans to state charter educational institutions to pay project costs; and to provide that state charter educational institutions shall secure the payment of such loans out of a dedicated source of revenue. This article shall be liberally construed in conformity with the intentions of the Legislature expressed above. Section 3. As used in this chapter, the following terms Page Section 3. As used in this chapter, …
Sponsors
- Orr, Arthur (R, SD-003) · primary sponsor
Latest actions
- : Enacted
- : Delivered to Governor
- : Signature Requested
- : Enrolled
- : Ready to Enroll
- : Motion to Read a Third Time and Pass - Adopted Roll Call 1295
- : Third Reading in Second House
- : Read for the Second Time and placed on the Calendar
- : Reported Out of Committee Second House
- : Pending Committee Action in Second House
Votes
- House Roll Call #1295 (April 8, 2026): 94 yea, 3 nay, passed
- House Roll Call #1294 (April 8, 2026): 96 yea, 2 nay, passed
- Senate Roll Call #258 (February 5, 2026): 34 yea, 0 nay, passed
- Senate Roll Call #257 (February 5, 2026): 34 yea, 0 nay, passed
- Senate Roll Call #256 (February 5, 2026): 34 yea, 0 nay, passed
Subjects: Education
Common questions
- What is SB62?
- SB62 is a bill in the Alabama Legislature (2026 Regular Session): Alabama Charter School Finance Authority, bonding authority established, legislative findings, board membership, powers, contracts, investments.
- What does SB62 do?
- In its own words: An Act, To provide for the establishment of the Alabama Charter School Finance Authority; to permit the authority to issue bonds for the purpose of making financing loans to state charter educational institutions to finance and refinance project costs; and to require each state charter educational institution that receives a financing loan to maintain a dedicated source of revenue to repay such financing loans.
- What is the status of SB62?
- Signed into law as of April 17, 2026. Latest action: Enacted (April 17, 2026).
- Who sponsored SB62?
- Orr, Arthur (R, SD-003).
- Where is the official record for SB62?
- On the Alabama Legislature website: https://alison.legislature.state.al.us/instrument/2026RS/SB62
Source: official Alabama record. Tracked by Delilah, AI for legislation across all 50 states and Congress.