Posted: 11/3/2014 10:08:43 AM EDT
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Somebody help me muddle through this one. From what I've read it will take $50 mil from the Alabama Trust Fund and give to the National Guard spread out over 20 years. But we'd also get fed money to spend on national guard facilities if it passes?
Anything I'm not seeing? Is that money going to get repaid? |
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Quoted:
Somebody help me muddle through this one. From what I've read it will take $50 mil from the Alabama Trust Fund and give to the National Guard spread out over 20 years. But we'd also get fed money to spend on national guard facilities if it passes? Anything I'm not seeing? Is that money going to get repaid? Short answer, yes. Amendment 2 will have no direct impact on taxes, but would redirect the distribution of income from the Alabama Trust Fund. It is estimated that the cost to the ATF of repaying $50 million in bonds that could be issued under this Amendment would be about $3.7 million annually for 20 years, which could reduce interest income to the General Fund and local governments. Ballotpedia The downside is that will be $3.7m less the General Fund will have (spread over 20 years), so essentially it would be the state spending $3.7m state dollars in order to get $50m federal dollars from the matching funds. Edit- Math and reading is hard $3.7m x 20 years = $74m, so the state would be spending $74m to get $100m in state/federal funds. Maybe some AL Guard guys can speak to the condition of the armories in Alabama. I at first thought this was a no brainer yes vote but now I am undecided on it. |
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