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. Key changes include increasing the director's fees for board members attending meetings, allowing for up to $1,750 per month for regular members and up to $2,000 for the chair. The bill also modifies terminology, replacing "chairman" and "vice-chairman" with "chair" and "vice chair," and clarifies the election committee's composition and voting structure, ensuring that each municipality has one whole vote plus additional votes based on the percentage of electric power purchased.

Additionally, the bill establishes that members of the election committee cannot serve on the board, and the board's composition must reflect the state's diversity. It outlines the quorum requirements for the election committee and introduces provisions for municipalities to designate additional members. The authority is required to maintain comprehensive financial records and undergo an annual audit by an independent firm to promote transparency. These amendments are set to take effect on January 1, 2026, and aim to streamline governance and enhance operational efficiency within the authority.

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