The constitutional amendment to take money from the state’s oil and gas trust passed by a two-to-one margin Tuesday.

Local representatives reacted to its passage and the fact that there was no provision for a payback in the amendment.

The passage by voters allows for $437 million to be transferred into the state’s general fund over the next three years.

Had the money stayed in the oil and gas trust, it would have provided interest off $2.3 billion each year with the remaining principal sitting unused, but still earning money.

“I was surprised by the vote,” Sen. Scott Beason (Jefferson, Blount, St. Clair) said. I thought it would probably pass even though I was opposed to it. It really doesn’t change our goal. We should continue to focus on creating the most effective best run state government. It will make it more difficult to improve the way government runs because the pressure has been relieved. My plan is to continue to work to get there and make sure we try to create the most fiscally responsible government possible.”

 “My feeling is our job right now—from a legislative standpoint—is to get this paid back,” Rep. Jim McClendon (R—St. Clair) said. “We’ve got to get the money back so it can be earning interest. That interest and the money it generates helps offset tax burdens. It’s important that we get this money back in there. This is going to be a great relief to those in the healthcare industry and a relief in their planning and I know corrections is going to sigh a relief, too.”

Some representatives were also glad that it gave the money needed to immediately balance the budget.

“I’m very glad that the amendment passed so we can have a balanced budget and keep the state going into Fiscal Year 2013 which starts October 1 with a clean sheet,” Rep. Randy Wood (R—Calhoun and St. Clair) said.

“I’m certainly glad it passed,” said Dickie Drake (R—Eastern Jefferson and Southern St. Clair). “It beats the rolling of the dice on proration. If it hadn’t passed 17 percent proration would affect everyone in the state in some way or another; not only Medicaid but the federal dollars matching it as well.”

Governor Robert Bentley said e wanted to “thank the voters for approving the state’s plan to temporarily borrow funds from our savings account to help get us through these difficult economic times without raising taxes.  Once again, I pledge to the people of this state that the funds transferred to help support critical state services will be paid back.

“In the first 20 months of this Administration, we have passed laws and taken executive action that will save the state $675 million annually.  We will continue our efforts to increase efficiency and reduce government spending.  My goal is to identify a billion dollars in savings by the end of my first term, and that goal is well within reach.  Since taking office, we have helped create more than 26,000 new jobs for people in communities across Alabama, and we will aggressively continue our job creation efforts.

“Despite these savings and despite these new jobs, the General Fund still needs this temporary funding bridge from the Alabama Trust Fund to maintain essential services as we continue to streamline and right-size government.  We have also identified stronger sources of revenue for the General Fund without raising taxes.  Through these combined measures, we will put our state in a stronger financial position for the future.”