SB336 Enrolled is a bill that establishes the framework for creating and governing "Research and Development Corridors" in Alabama as nonprofit public corporations. These corridors are designed to support economic development and innovation, and the bill provides for their creation, dissolution, and the powers and duties of their boards of directors. It exempts the corridors from certain laws and requirements, such as taxation and competitive bid laws. The bill defines terms related to the corridors, outlines the process for incorporating them, and details the composition and appointment of the board of directors, including provisions for diversity and the inclusion of minority business organization suggestions for board appointments. Directors serve without compensation but are reimbursed for expenses, and the bill specifies the powers and limitations of the corridor, including the ability to acquire and manage property, charge fees, collect revenue, and grant funds to public and private entities.

The bill also addresses the financial operations and obligations of the corridors, allowing them to issue financial obligations without a principal amount limit for various purposes and designating these obligations as legal investments for entities within the state. Financial obligations are enforceable by legal and equitable rights and remedies, and they do not create liability for the state or any public entity. The bill grants public entities the authority to support corridors financially without voter authorization and requires corridors to produce annual audited financial statements. It provides tax exemptions for corridors and outlines procedures for their dissolution, including the vesting of property in the authorizing subdivisions. The bill includes an anti-poaching clause, a severability clause, and is set to become effective immediately upon passing. There are no specific insertions or deletions indicated in the provided text.