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 that the remaining funds will be distributed differently, with 6% or $232,000 (whichever is greater) allocated to the Marshall County Economic Development Office, and various other allocations for school resource officers, mental health services, and community organizations. The bill also releases previously allocated funds for industrial or economic development projects for further use at the discretion of the Economic Development Board. The act is set to take effect on June 1, 2024.