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 for board members, with a maximum of $1,750 per month for regular members attending meetings and $2,000 for the chair, replacing the previous requirement for unanimous approval for compensation. The bill also clarifies the voting rights of municipalities in the election committee, ensuring each municipality has one whole vote plus additional votes based on their electric power purchases. It emphasizes the need for the board's composition to reflect the state's diversity and establishes that members of the election committee cannot serve on the board.

Additionally, the bill makes several grammatical updates, such as changing "chairman" to "chair" and "vice-chairman" to "vice chair," while also modifying the election process to ensure staggered terms for members from the same municipality. It outlines the procedures for meetings, including quorum requirements and protocols for filling vacancies, and mandates the authority to maintain comprehensive financial records and undergo annual audits by an independent firm. The changes are designed to streamline operations and enhance governance within the authority, with the new provisions set to take effect on January 1, 2026.

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