This bill amends Section 45-39-245.47 of the Code of Alabama 1975, specifically regarding the allocation of proceeds from sales and use taxes in Lauderdale County. The new legal language introduces a structured distribution of these proceeds, which will be deposited into a separate fund for the county. Starting October 1, 2025, the governing body of the county is required to transfer the collected proceeds, after deducting collection costs and other lawful expenses, to specific entities.

The bill outlines a detailed distribution plan: first, an amount equal to one-twelfth of the total contributions made by Colbert County to the Shoals Economic Development in the previous fiscal year will be allocated. Following that, 55% of the remaining funds will go to the Lauderdale County Commission for economic development purposes, while 45% will be allocated to the City of Florence for similar economic development initiatives. The act is set to take effect on June 1, 2025.

Statutes affected:
Introduced: 45-39-245