The bill amends several sections of the Code of Alabama 1975 to rename the Alabama Space Authority to the Alabama Aerospace and Defense Authority, effective October 1, 2026. It also increases the membership of the authority and outlines its duties and powers. Key insertions include provisions for the authority to continue holding rights and properties under its new name, an expanded membership list that includes representatives from various educational and governmental institutions, and the establishment of procedures for conducting its affairs.

Additionally, the bill specifies the authority's duties, such as promoting aerospace education, encouraging private investments, and facilitating space tourism. It grants the authority powers to acquire property, lease facilities, adopt bylaws, and enter into contracts. Notably, it requires the authority to provide copies of any bylaw changes to the Legislative Council for review. The bill aims to enhance Alabama's role in aerospace and defense sectors while fostering economic development and innovation in these fields.

Statutes affected:
Introduced: 41-23-170, 41-23-171, 41-23-173, 41-23-174, 41-23-170, 41-23-171, 41-23-173, 41-23-174
Enrolled: 41-23-170, 41-23-171, 41-23-173, 41-23-174, 41-23-170, 41-23-171, 41-23-173, 41-23-174