The bill, HB160 Engrossed, amends Section 11-50A-6 of the Code of Alabama 1975, focusing on the governance and compensation structure of the Alabama Municipal Electric Authority. It introduces new provisions that allow for increased director's fees, permitting board members to receive up to $1,750 per month for attending meetings, while the chair can earn up to $2,000 per month, replacing the previous cap of $600 per meeting attended. The bill also clarifies the board's composition, stating it will consist of members equal to the number of municipalities contracting with the authority, and allows members to succeed themselves. Additionally, it deletes the previous provision that allowed for compensation, establishing that board members shall serve without compensation but may be reimbursed for actual expenses incurred.

Moreover, the bill enhances the governance structure by mandating that municipalities without representation on the election committee designate an additional member and specifies the initial board's composition and election procedures. It replaces terms like "chairman" with "chair" and "vice-chairman" with "vice chair," and clarifies that election committee members are ineligible for board membership. The bill also outlines procedures for filling board vacancies, electing officers, and maintaining financial records, including an annual audit by an independent firm. These changes aim to streamline operations, ensure inclusivity, and enhance the authority's governance, with the act set to take effect on January 1, 2026.

Statutes affected:
Introduced: 11-50A-6
Engrossed: 11-50A-6