The bill amends Section 45-52-161.02 of the Code of Alabama 1975 to revise the distribution of Tennessee Valley Authority (TVA) in-lieu-of-taxes payments for Morgan County. Key changes include increasing the allocation to the Morgan County Legislative Delegation Fund from 40% to 45% and raising the allocation for the Morgan County Rescue Squad from 8% to 9%. Additionally, a new allocation of 10% is designated for the Decatur-Morgan County Entrepreneurial Center. The bill also introduces a new structure for distributing the remaining funds, which will be combined and allocated to various entities, including local governments and the county general fund.

Furthermore, the bill repeals Sections 45-52-161.03 through 45-52-161.07, which previously governed the distribution of Morgan County TVA funds, and establishes a separate fund for the Morgan County Legislative Delegation. This fund will support the maintenance of a legislative office, allow the delegation to employ staff, and mandate an annual audit of revenues and expenditures. The Morgan County Industrial Park and Economic Development Cooperative District will manage the Morgan County Economic Development Fund, ensuring that funds are used for economic development purposes that benefit the county. Any unspent funds as of September 30, 2025, will remain in the fund after October 1, 2025. The effective date for this act is set for October 1, 2025.

Statutes affected:
Introduced: 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161
Engrossed: 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161
Enrolled: 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161, 45-52-161