The Alabama House of Representatives cleared a major hurdle Thursday, approving a bill to use the state’s settlement funds from the 2010 Deepwater Horizon BP oil spill in the Gulf of Mexico to pay debts and build roads in south Alabama.
Lawmakers approved the bill 88-10.
The plan, devised primarily by Ozark Republican and Committee Chairman Steve Clouse, calls for the state to create a $639 million bond issue and apply the BP payments to pay off the bonds. Under the plan, $450 million of the settlement would be used for debt repayment and nearly $200 million would go toward road projects in coastal counties.
The bill now moves to the Alabama Senate.