This bill amends Section 45-39-245.47 of the Code of Alabama 1975, specifically addressing the allocation of proceeds from sales and use taxes in Lauderdale County. The new language specifies that all proceeds from the authorized taxes, along with any income from their investment, must be deposited into a separate county fund. Beginning October 1, 2025, the governing body of the county is required to transfer and deposit the collected proceeds, after deducting collection costs and other lawful expenses, into designated accounts.

The bill outlines a new distribution framework for these proceeds. It mandates that one-twelfth of the total amount contributed to the Shoals Economic Development by Colbert County in the previous fiscal year be allocated first. Following this, 55% of the remaining amount will be directed to the Lauderdale County Commission for economic development, while 45% will be allocated to the City of Florence for its own economic development purposes. The act is set to take effect on June 1, 2025.