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 increases the director's fees for board members and the chair, allowing for compensation of up to $1,750 per month for attending meetings and up to $2,000 for the chair. The bill also modifies the board's composition, stating it will consist of members equal to the number of municipalities contracting with the authority, rather than a fixed number of nine. Additionally, it introduces inclusive language by changing "chairman" to "chair" and makes grammatical adjustments to enhance clarity.

Moreover, the bill outlines the election committee's structure, requiring municipalities without representation to designate an additional qualified elector. It establishes that board members serve at the pleasure of the election committee and are ineligible for board membership. The bill also emphasizes the need for diversity in board membership and mandates the authority to maintain financial records and undergo annual audits by an independent firm, with results accessible to stakeholders. The provisions of this act are set to take effect on January 1, 2026.

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