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 attending meetings, allowing for compensation of up to $1,750 per month for members and up to $2,000 per month for the chair. The bill also clarifies that the board will consist of a number of members equal to the municipalities contracting with the authority, rather than a fixed number of nine. Additionally, it updates terminology by replacing "chairman" and "vice-chairman" with "chair" and "vice chair," and specifies that board members serve without compensation but may be reimbursed for actual expenses.

Moreover, the bill introduces several governance enhancements, including the requirement for municipalities to designate an additional member to the election committee, ensuring representation for all municipalities. It establishes that a quorum for the election committee requires representatives entitled to cast two-thirds of the total votes and outlines the process for electing representatives. The authority is also mandated to maintain comprehensive financial records and undergo an annual audit by an independent firm to promote transparency. These provisions are set to take effect on January 1, 2026.

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