Section 5-23-4 Proceeds. - Alabama Statutes

Section 5-23-4

Proceeds.

The net proceeds of the state fees shall be transmitted to the state Comptroller and distributed as follows:

(1) Seventy-five percent to the Foundation for Local Schools as provided in Chapter 26C of Title 16, to be allocated to the credit of local school systems.

(2) Twenty-five percent to the Penny Trust Fund as established by Amendment 512 of the Constitution of Alabama of 1901, and by Chapter 15A of Title 41.

(Acts 1990, No. 90-524, p. 764, §5; Act 98-319, p. 535, §11.)