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 various appointed members, including representatives from local legislative districts and the Etowah County Chamber of Commerce. The bill also stipulates that all revenue generated by the authority will be managed by the City of Rainbow City, which will be responsible for fulfilling the authority's financial obligations, provided that sufficient revenue is collected.

Additionally, the bill outlines the process for the eventual dissolution of the authority upon the full payment of its debts, which must occur by June 1, 2048. Upon dissolution, all assets and liabilities of the authority 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. The legal language deleted from the current law includes provisions regarding the terms of authority members and the evaluation of the sports complex's development, while new insertions clarify the responsibilities and powers of the City of Rainbow City in managing the authority's affairs.