The bill HB160 Engrossed amends Section 11-50A-6 of the Code of Alabama 1975, focusing on the governance structure of the Alabama Municipal Electric Authority. Key changes include replacing "which" with "that" for clarity, adjusting the board of directors' composition to reflect the number of municipalities contracting for electric power rather than a fixed number of nine, and changing "chairman" to "chair" for gender neutrality. The bill also outlines the election process for board members and the election committee, detailing voting rights based on municipalities' electric power purchases and ensuring representation reflects the municipalities' engagement with the authority.

Additionally, the bill modifies the compensation structure for board members, eliminating the previous provision for compensation per meeting and establishing that members serve without compensation, except for actual expenses. However, it allows for a director's fee of up to $1,750 per month for attending meetings and $2,000 for the chair. The bill emphasizes diversity in board membership and mandates comprehensive financial record-keeping and annual audits by an independent firm. These changes are set to take effect on January 1, 2026.

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