The bill SB327 amends several sections of the Code of Alabama 1975 concerning Capital Improvement Cooperative Districts, specifically Sections 11-99B-5, 11-99B-7, 11-99B-9, and 11-99B-11. Key insertions include the authorization for districts to amend their articles of incorporation to incorporate new areas and projects, as well as the ability to impose rates, fees, and charges on users and property owners within the district, contingent upon approval from the governing body. The bill also streamlines the process for amending the certificate of incorporation by removing redundant phrases and clarifies the powers of the districts, including property acquisition, contract engagement, and bond issuance for project funding. Additionally, it mandates that any amendments include provisions for the election of directors from newly added counties or municipalities, ensuring proportional voting power based on financial contributions.

The bill also introduces new requirements for financial management, such as ensuring the payment of rentals, licenses, rates, fees, or charges through reasonable deposits from users, and mandates that these charges be fixed and revised to cover project-related costs and bond payments. In terms of deletions, the bill removes phrases that previously limited the scope of contracts and agreements, broadening the district's authority, and replaces "promulgation" with "adoption" to simplify regulatory processes. Overall, SB327 aims to enhance the operational efficiency and financial accountability of districts while providing greater flexibility in managing their projects and resources, with an effective date set for October 1, 2024.

Statutes affected:
Introduced: 11-99B-5, 11-99B-7, 11-99B-9, 11-99B-11
Engrossed: 11-99B-5, 11-99B-7, 11-99B-9, 11-99B-11
Enrolled: 11-99B-5, 11-99B-7, 11-99B-9, 11-99B-11