5:36pm

Thu February 14, 2013
WVAS Local

WVAS Local News

The Alabama Senate passed a House Bill today that will mandate the repayment of $437 million dollars recently taken from the Alabama Trust Fund to help shore up the General Fund budget.  Democratic Senator Quinton Ross from Montgomery opposed the bill.  Republican Senator Bryan Taylor from Prattville added an amendment that provides for an automatic annual appropriation to the Alabama Trust Fund.  He maintains that the money should be paid back.  Since an amendment was added to the legislation, the House must concur before it goes to the Governor for his signature. 

Alabama Settlement

The state of Alabama is set to receive part of a $29 million Toyota Motor Corporation settlement over safety concerns.  State Attorney General Luther Strange announced Thursday that Alabama will receive nearly $642,000.  The settlement stemmed from concerns over some of the company's vehicles unintentionally accelerating.   

Dodd-Frank Law

Alabama is among ten states challenging the sweeping financial overhaul law that was enacted to fix the financial crisis.  Alabama Attorney General Luther Strange and other state attorneys general said in a statement the law known as Dodd-Frank gives power to the Treasury Secretary to liquidate banks with only 24 hours notice without notifying creditors or shareholders.  Strange contends the law violates the Constitution and has the potential to threaten Alabama's pension funds and other state interests. 

New Park

Alabama Power and the City of Montgomery have partnered to build a new park.  The project slated to be complete in April will feature picturesque views of the Alabama river, picnic and fishing areas along with a boat ramp for canoes, dragon boats and kayaks.  The park has no official name, it's located on Morris Street off Maxwell Boulevard.