Alabama will be putting $260 million back into the Education Trust Fund’s Rainy Day account.
Gov. Robert Bentley made the announced on Friday, Sept. 27. In fiscal year 2009, the state transferred $437 million from the rainy day account to support the trust fund.
Last year, the state resubmitted $14 million. The state has been working to re-fund the account. The $260 million repayment will be made in the first quarter of fiscal year 2014.