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HB555 INTRODUCED
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HB555
NRSB68J-1
By Representatives Hall, Daniels, Jones, Clarke, Forte,
Warren, Datcher, Bracy, Hollis, Tillman, Moore (M), McClammy,
Hendrix, Morris, England, Sellers, Gray, Travis, McCampbell,
Hassell, Givan, Drummond, Jackson, Lawrence, Lands, Ensler,
Rafferty, Chestnut, Boyd (Constitutional Amendment)
RFD: State Government
First Read: 03-Mar-26
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NRSB68J-1 02/03/2026 MRF (F)MRF 2026-654
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First Read: 03-Mar-26
SYNOPSIS:
Under existing law, the state shall not lend
money or its credit to any individual, association, or
corporation.
This bill would propose an amendment to the
Constitution of Alabama of 2022, to provide that the
Alabama Department of Economic and Community Affairs
may provide low-interest loans to qualifying chemical
and energy production facilities operating in the State
of Alabama as part of the State Energy Supply and
Chemical Trade Stabilization Act.
A BILL
TO BE ENTITLED
AN ACT
Proposing an amendment to the Constitution of Alabama
of 2022, to authorize the Alabama Department of Economic and
Community Affairs to provide low-interest loans under certain
circumstances.
BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
Section 1. The following amendment to the Constitution
of Alabama of 2022, is proposed:
PROPOSED AMENDMENT
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PROPOSED AMENDMENT
(a) Notwithstanding any provisions of the Constitution
of Alabama of 2022 to the contrary, The Alabama Department of
Economic and Community Affairs is authorized to provide
low-interest loans to qualifying chemical and energy
production facilities in the State of Alabama as part of the
State Energy Supply and Chemical Trade Stabilization Act.
(b) Upon ratification of this constitutional amendment,
the Code Commissioner shall number and place this amendment as
appropriate in the constitution omitting this instructional
paragraph and may make the following nonsubstantive revisions:
change capitalization, hierarchy, spelling, and punctuation
for purposes of style and uniformity; correct manifest
grammatical, clerical, and typographical errors; revise
internal or external citations and cross-references; harmonize
language; and translate effective dates.
END OF PROPOSED AMENDMENT
Section 2. An election upon the proposed amendment
shall be held in accordance with Sections 284 and 285 of the
Constitution of Alabama of 2022, and the election laws of this
state. The appropriate election official shall assign a ballot
number for the proposed constitutional amendment on the
election ballot and shall set forth the following description
of the substance or subject matter of the proposed
constitutional amendment:
"Proposing an amendment to the Constitution of Alabama
of 2022, to authorize the Alabama Department of Economic and
Community Affairs to provide low-interest loans to qualifying
chemical and energy production facilities in the State of
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chemical and energy production facilities in the State of
Alabama as part of the State Energy Supply and Chemical Trade
Stabilization Act.
Proposed by Act ____. "
This description shall be followed by the following
language:
"Yes( ) No( ). "
Section 3. The proposed amendment shall become valid as
a part of the Constitution of Alabama of 2022, when approved
by a majority of the qualified electors voting thereon.
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