This bill amends Section 45-48-161 of the Code of Alabama 1975, specifically regarding the distribution of in-lieu-of-taxes payments from the Tennessee Valley Authority for Marshall County. The bill stipulates that 25% of the total allocated amount will be distributed to various local school boards based on student enrollment. Additionally, it introduces a new allocation of either 4% of the remaining funds or a minimum of $200,000 for the operation of the Marshall County Legislative Delegation Office, with any unspent funds being available for educational or economic development projects upon unanimous consent of the legislative delegation.

The bill also revises the allocation of the remaining funds, which will now be reviewed every four years. It specifies that 6% of these funds or a minimum of $232,000 will go to the Marshall County Economic Development Office for staffing and recruitment efforts. Other allocations include $30,000 for school resource officers, $15,000 for the Economic Development Board, and various amounts for local arts, health services, and community organizations. The bill removes certain previous allocations and establishes new funding amounts for specific services, ensuring that all remaining funds after these allocations will be distributed to the county and municipalities as per existing law. The act is set to take effect on June 1, 2024.