This bill amends Section 45-44-90 of the Code of Alabama 1975 to establish the Macon County Economic Development Authority and provide for its operation. The bill also authorizes the formation of a successor authority under certain conditions. The newly incorporated or reincorporated authority will have the same board members as the current authority, unless otherwise provided in the articles of incorporation. Any funds distributed or available to the authority may be expended or pledged for economic development purposes in Macon County, including securing and repaying loans for economic development. The bill clarifies that any powers, privileges, duties, or exemptions granted to the new authority or any successor authority do not replace or limit the purposes, powers, or sources of funds granted to the Macon County Economic Development Authority.

This bill was passed by the House on May 16, 2023, and by the Senate on May 31, 2023. It will become effective immediately following its passage and approval by the Governor or its otherwise becoming law.

Statutes affected:
Introduced: 45-44-90
Enrolled: 45-44-90