Alabama Gov. Robert Bentley last week signed a bill implementing "People's Trust Act" and establishing a payment plan for repaying $438 million it will borrow from the Alabama Trust Fund to prop up the state's general fund budget.

The state's voters approved a constitutional amendment last September allowing the transfer of $146 million a year for three years from the Trust Fund, which was created to invest offshore oil and gas lease payments to produce income for the state budget. Dipping into the Trust Fund principal was designed to prevent severe across-the-board budget cuts.

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