The proposed bill establishes the Lauderdale County Economic Development Authority, which aims to support existing industries and retail establishments while facilitating the development of new businesses to create job opportunities in Lauderdale County. The authority will be governed by a five-member board appointed by the county commission, with members serving four-year terms. The board will elect its own officers and may employ an executive director to implement its policies. Additionally, the authority is authorized to receive contributions from various entities and will be subject to audits by the Department of Examiners of Public Accounts.

To fund its activities, the Lauderdale County Commission is permitted to levy an additional sales and use tax of up to three-quarters of one percent on applicable transactions, with certain exemptions for businesses already covered under state tax statutes. The proceeds from this tax will be deposited into the newly created Lauderdale County Economic Development Authority Fund, which the board can use for lawful purposes aligned with the authority's objectives. The bill will take effect on October 1, 2026.