More than $260M will be repaid to Ala. Rainy Day Account this ye -, GA News Weather & Sports

More than $260M will be repaid to Ala. Rainy Day Account this year

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(WTVM) -

Alabama governor Robert Bentley says the state will be able to repay more than $260 million to the Education Trust Fund's Rainy Day account after the close of the current fiscal year.

The state transferred more than $437 million from the Rainy Day Account to support the fund in 2009. 

Last year, $14.4 million was repaid. 

Gov. Bentley says the uptick in the economy helped make this year's payment. 

"I wanted to thank the people of Alabama because the economy is what turned this thing around because all this money came from income tax, sales tax, utility taxes, all of that goes into the education trust fund," said Gov. Bentley.

Full repayment to the education trust fund is required by September 30, 2015.

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