The bill proposes amendments to Section 45-44-90 of the Code of Alabama 1975, which pertains to the establishment and operation of the Macon County Economic Development Authority. The amendments include new provisions that allow the existing Macon County Economic Development Authority to incorporate or reincorporate as an authority under Chapter 92A of Title 11. The board members of the newly incorporated or reincorporated authority are to remain the same as those provided for in Section 45-44-90.01, unless the articles of incorporation of the new authority specify otherwise.

Additionally, the bill specifies that any funds distributed to or available for the Macon County Economic Development Authority, including those pursuant to Section 45-44-242.12 or other sources, may be used or pledged by the authority or any successor authority for economic development purposes in Macon County. This includes securing and repaying loans for economic development. The powers, privileges, duties, or exemptions granted to any newly incorporated authority or successor authority are not to be seen as inconsistent with, replacing, negating, or limiting any purpose, power, or source of funds granted to the original Macon County Economic Development Authority. The act is set to become effective immediately upon its passage and approval by the Governor, or upon becoming law without such approval.

Statutes affected:
Introduced: 45-44-90
Enrolled: 45-44-90