The unanimous support is unprecedented in Alabama's special session history.

These bills will be brought before the citizens of Alabama on
June 5, when voters go to the polls to consider two constitutional amendments impacting the future of our great State.

• Thousands of new jobs for citizens of Alabama
• Billions of new dollars flowing into Alabama's economy

There are approximately 30 companies currently considering making Alabama their business home – or expanding their current Alabama-based operations. These projects are located throughout Alabama.

In order for Alabama to continue offering economic incentives to new and existing businesses, the bonding (borrowing) cap on the Capital Improvement Trust Fund must be increased.

This amendment raises the current $350 million bonding cap to $750 million in order to grow economic development in the state.

Bonds are paid with the oil and gas royalty payments allocated to the Capital Improvement Trust Fund. No General Fund or Education Trust Fund revenues are used for this purpose.

• Improve Alabama's accountability
• Enable better policy decisions regarding future benefits and services for retired employees
• Ensure that the Alabama Legislature and future administrations will not divert the funds to other projects

New federal reporting guidelines require that states must, for the first time, report the estimated future health care costs of retired state employees and teachers.

The Alabama Legislature approved the creation of irrevocable trust funds – the mechanisms to fund this liability. Failure to address this liability can hurt Alabama's position with bond rating agencies, resulting in millions of dollars in higher interest payments on debt issued for school construction or economic development projects.