Young Boozer wins historic fourth term as Alabama state treasurer

Republican Young Boozer became the first Alabamian elected to four terms as state treasurer Tuesday, defeating Democrat Rosilyn Houston with about 55 percent of the vote, according to unofficial returns.

Boozer first won election in 2010 and was reelected in 2014. Governor Kay Ivey appointed him in 2021 to finish the term of Treasurer John McMillan, who resigned to lead the Alabama Medical Cannabis Commission. Boozer won his third elected term in 2022.

“My office will continue to work every day on behalf of Alabama families—protecting public funds, returning unclaimed property dollars, and ensuring every program we oversee delivers results,” Boozer said in a statement Wednesday. He said he looked forward to working with the incoming Tuberville administration.

Boozer helped restructure Alabama’s Prepaid Affordable College Tuition program, known as PACT. The program closed to new enrollment in 2008 and continues to pay benefits to existing account holders. In May, the board Boozer chairs approved a 6 percent increase in the rate the program pays toward tuition and fees, effective this fall. It was the 12th consecutive benefit increase since a 2011 class-action settlement.

The CollegeCounts Scholarship Program awarded $1.07 million this year to 403 students from 57 counties. Eligible students received $4,000 to attend four-year colleges in Alabama or $2,000 to attend two-year colleges in the state. Boozer chairs the Alabama Savings Board, which oversees the program. The state Treasury says the scholarships use no taxpayer funds.

The treasurer’s office launched Alabama’s ABLE savings program in 2017 during Boozer’s second term. The program allows eligible people with disabilities to save for disability-related expenses in tax-advantaged accounts while maintaining eligibility for certain public benefits.

In his reelection statement, Boozer said the Treasury returned about $500 million in unclaimed property during his time in office. Alabamians can search for unclaimed money or property in their names on the state Treasury’s website.

Boozer also serves as secretary of the board that oversees the Alabama Trust Fund, which invests proceeds from offshore oil and gas. Boozer said the fund grew 80 percent and that the growth generated $2.38 billion in additional distributions over 13 years to the state General Fund, Forever Wild and Alabama cities and counties. The state reported $4.2 billion in fund investments at the end of fiscal 2025.

The National Association of State Treasurers presented Boozer with its Lucille Maurer Award in 2019 for outstanding service to the association.