The bill amends Section 45-28-220.03 of the Code of Alabama 1975, specifically concerning the Etowah County Mega Sports Complex Authority. Key changes include the immediate transfer of all fiduciary responsibilities related to the authority to the City of Rainbow City, effective October 1, 2025. The authority will consist of appointed members from local legislative districts and representatives from the Etowah County Chamber of Commerce and Tourism Board. The bill also stipulates that all revenue generated by the authority will be transmitted to the city, which will be responsible for the authority's fiscal obligations, provided that the revenue is sufficient to cover these liabilities.

Additionally, the bill outlines the process for the eventual dissolution of the authority upon the full payment of its outstanding debts, which must occur by June 1, 2048. Upon dissolution, all assets and responsibilities will transfer to the City of Rainbow City. The bill also mandates a comprehensive financial audit of the authority to be conducted immediately after October 1, 2022, and subsequently every two years, with the audits ceasing upon the authority's dissolution. Notable deletions from the current law include the previous terms of authority members and the authority's evaluation responsibilities regarding the sports complex, which have been replaced with new provisions regarding the transfer of responsibilities and the timeline for dissolution.