Alabama Code 41-15B-2.1. Transfer and use of funds
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Terms Used In Alabama Code 41-15B-2.1
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: means next after. See Alabama Code 1-1-1
- Oversight: Committee review of the activities of a Federal agency or program.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
It is the intent of the Legislature that in each of the following fiscal years the following amounts from tobacco revenues shall be transferred to the Children First Trust Fund:
| Amount | Fiscal Year |
| up to $60,000,000 | 2000 |
| up to $65,000,000 | 2001 |
| up to $70,000,000 | 2002 and each fiscal year thereafter |
It is the intent of the Legislature that strict accountability measures, including needs assessments, legislative oversight, annual reports of expenditures, and program evaluations, be undertaken to ensure the wise and prudent use of these funds for the children of our state.