This bill amends Section 45-48-161 of the Code of Alabama 1975 to revise the distribution of in-lieu-of-taxes payments from the Tennessee Valley Authority for Marshall County. Key changes include the allocation of 25% of the total amount to various school boards based on student enrollment, and a new provision that mandates a minimum allocation of either 4% of the remaining funds or $200,000, whichever is greater, for the operation of the Marshall County Legislative Delegation Office. Additionally, any unspent funds from this allocation can be redirected towards educational or economic development projects with unanimous approval from the legislative delegation.

Further amendments specify the distribution of the remaining funds, which will now be reviewed every four years. Notable allocations include $232,000 or 6% of the remaining funds for the Marshall County Economic Development Office, $30,000 for school resource officers, and various amounts for local organizations and services, such as $50,000 for mental health services and $25,000 for the Marshall County Coalition Against Domestic Violence. The bill also stipulates that all remaining funds after these allocations will be distributed to the county governing body and municipalities as per existing law. The act is set to take effect on June 1, 2024.