The bill establishes the Agriculture Exhibition Center Corporation, which will oversee the Alabama Farm Center with the goal of promoting agricultural education and business development in Alabama. The corporation will be governed by a board of directors appointed by state officials, including the Governor and the Commissioner of Agriculture and Industries, and will focus on ensuring diversity in its membership. The corporation is granted various powers, such as adopting bylaws, acquiring property, and entering contracts for the development of the Alabama Farm Center. It will also be designated as an economic development organization under the Growing Alabama Act and will have the ability to engage in legal proceedings, accept gifts and grants, and plan facilities and programs that support agricultural and cultural development.

The bill includes significant amendments to existing laws, expanding the corporation's financial capabilities by allowing it to invest in securities, issue bonds, and engage in joint ventures. Key deletions from current law remove restrictions on the corporation's financial activities, enabling it to lend credit and become a stockholder in other corporations. The bill also clarifies contract execution processes and establishes criteria for evaluating proposals. Additionally, the corporation is exempt from various taxes and municipal ordinances, including zoning laws, and can permit the consumption of alcoholic beverages on its premises. The act is designed to take effect immediately upon passage, enhancing the corporation's operational flexibility and financial capacity to support its mission.

Statutes affected:
Introduced: 40-9-14, 40-9-60
Enrolled: 40-9-14, 40-9-60