SB450 Summary

• Establishes the Jackson/DeKalb Counties Industrial Development Authority to market and develop the Northeast Alabama Technology Park on the Campbell site near Northeast Alabama Community College and other suitable economic development sites in the vicinity.

• Authority membership consists of the Northeast Alabama Community College President (as chair), one member each from Jackson and DeKalb County Commissions, one member from each county appointed by state Senate delegations, one member from each county appointed by state House delegations, leaders of Jackson and DeKalb County Economic Development Authorities, and CEOs of Sand Mountain Electric Co-op and North Alabama Electric Co-op.

• Appointed members serve four-year terms and continue until a successor is appointed, with the Northeast Alabama Community College providing clerical assistance to the authority.

• Authority may receive funding from any public or private source and must annually report to the Legislature by the second legislative day of each regular session regarding compliance with racial, gender, geographic, urban/rural, and economic diversity requirements.

• Act becomes effective on the first day of the third month following passage and approval by the Governor.