The bill SB95 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 for attending meetings, allowing for compensation of up to $1,750 per month for board members and up to $2,000 for the chair. The bill also updates terminology for gender neutrality, replacing "chairman" with "chair" and "vice-chairman" with "vice chair." Additionally, it clarifies the election process for board members, ensuring fair representation based on the amount of electric power purchased by municipalities, and establishes a quorum requirement for the election committee.

Moreover, the bill emphasizes inclusivity in board membership, aiming to reflect the state's diversity in terms of race, gender, geography, and economic status. It streamlines meeting procedures and outlines the process for filling vacancies on the board. The authority is also required to maintain comprehensive financial records and undergo an annual independent audit to promote transparency and accountability. The provisions of this act are set to take effect on January 1, 2026.

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