The Alabama Growth Alliance Act, as outlined in SB252, seeks to create the Alabama Growth Alliance as a public corporation, independent of the state and local governments, to enhance economic development through private sector collaboration, strategic planning, and public-private partnerships. The bill justifies the need for this entity by highlighting the benefits of a comprehensive economic development approach and the competitive edge it can provide. It specifies the incorporation process, governance by a board of directors with both ex officio and appointed members, and the board's responsibilities, such as supporting the Department of Commerce in strategic planning and reviewing economic incentives biennially. The bill defines key terms and grants the corporation powers like contract negotiation and the ability to amend its governing documents, as well as detailing the dissolution process.

SB252 also describes the board's composition, emphasizing the need for private sector experience and diversity reflective of the state's demographics. Board members serve two-year terms, with a limit of two consecutive terms, and may be reappointed after a hiatus. The Governor can remove and replace at-large members, who are not compensated but can be reimbursed for travel. The board can conduct meetings remotely, must adhere to public notice requirements, and has emergency meeting provisions. The board's powers include providing input on economic development, identifying opportunities, and recommending coordination between entities. The corporation can operate outside certain state procurement laws, and private entities working with it are exempt from some state laws. The bill allows for amendments to the corporation's formation and details the dissolution process, with all property reverting to the state upon dissolution. An annual report to the Legislature is required, and the bill will take effect on October 1, 2024, subject to the Governor's approval or its passage into law.

Statutes affected:
Introduced: 41-10-870
Engrossed: 41-10-870
Enrolled: 41-10-870