The bill adds a new section, 4-3-47.1, to the Code of Alabama 1975, which authorizes airport authorities to engage in various business activities related to airport operations. Specifically, it allows these authorities to participate as general or limited partners, shareholders, or members in corporations, partnerships, or joint ventures that are involved in airport operations, land acquisitions, and related activities. Additionally, the bill permits airport authorities to create and support subsidiaries and affiliates, whether for profit or nonprofit, to assist in fulfilling their operational purposes. They are also empowered to arrange for loans and financing for these business entities.

Importantly, the bill stipulates that any corporation, partnership, or joint venture established under this new section will not possess the power of eminent domain. This provision ensures that while airport authorities can engage in business ventures to enhance their operations, they cannot exercise the authority to take private property for public use. The act is set to take effect on June 1, 2024.