HB705 Summary

• Amends Act 85-490 to modify the official designations in Citronelle, replacing "volunteer rescue squad" with "volunteer fire department" throughout the statute.

• Maintains a three-person board composed of representatives from the volunteer fire department, historical society, and city governing body to manage oil and gas proceeds.

• Allocates 20 percent of the 4% tax proceeds from oil and gas revenues to the board, with a monthly maximum of $2,000 each for the volunteer fire department and historical society, deposited in a separate interest-bearing account.

• Requires the board to distribute funds on a dollar-for-dollar matching basis with all funds acquired by the fire department and historical society, and mandates annual reporting to the city governing body.

• Declares that escrowed funds held by the board on the act's effective date shall be distributed in accordance with the amended statute.