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State Guide22nd StateEst. 1819
Alabama AL
"The Heart of Dixie"
A state of profound contrasts, the birthplace of the Confederacy and the cradle of the Civil Rights Movement, home to world-class rocket science and deep rural farming communities, all tied together by a fierce sense of place and an almost religious devotion to college football.
Alabama state finances at a glance
State Debt - FY2024
$11.0 billion
Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.
Tax Revenue - FY2024
$16.9 billion
Total Alabama state tax collections in fiscal 2024, led by the individual income tax ($5.3B) and the general sales tax ($4.6B).
Borrowing
Alabama's constitution caps direct state debt at $300,000, so most borrowing is done through separate bond authorities and appropriation-backed issues rather than general obligation bonds. Those bonds are sold to investors in the tax-exempt municipal market, and voters must approve most new state debt by constitutional amendment. The state reported about $327 million in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
22nd
State admitted to the Union
~5.1M
Population
1819
Year of statehood
53 mi
Gulf Coast shoreline