SB166 is a bill that introduces a new Article 3 to Title 11, Chapter 54B of the Code of Alabama 1975, enabling Class 3 municipalities to create self-help business improvement districts through district management corporations. These districts aim to foster economic development and boost tourism. The bill details the procedures for establishing these districts, including the necessity of a public hearing and the submission of a district plan. It also specifies the funding mechanism for supplemental business services, which involves assessments on real property owners or specific classes of business owners. The bill outlines the process for district expansion or reduction, the qualifications for district management corporation board members, the adoption of bylaws, and the management of funds, while exempting these corporations from certain taxes and permits.

The bill further addresses the governance of the districts, stating that district management corporations do not possess eminent domain powers and that their authorized structures or activities are not to be considered nuisances or unlawful obstructions if properly maintained. Municipalities may authorize these corporations to contract construction and maintenance work within the district. The bill mandates annual reports and financial audits by the district management corporations, and sets forth procedures for hearings to determine the district's future, including the disposition of assets upon termination. The act will take effect on the first day of the third month after its passage and approval by the Governor, or upon becoming law. The summary does not indicate any specific insertions or deletions from the existing law.