AL SB576

Amends Act 85-490 to require the City of Citronelle to designate the volunteer fire department (instead of a volunteer rescue squad) and a historical society to receive oil and gas tax proceeds.

Allocates 20% of all 4% tax proceeds paid to the City of Citronelle under Code of Alabama Section 40-20-8(c)(2), up to a maximum of $2,000 per month each for the volunteer fire department and historical society.

Establishes a three-person board with representatives appointed by the volunteer fire department, historical society, and city governing body to allocate funds on a dollar-for-dollar matching basis with funds acquired by these entities.

Requires the board to place tax proceeds in a separate interest-bearing bank account and submit annual reports to the city governing body detailing fund disbursements.

Authorizes distribution of any funds currently held in escrow by the board that have not been previously distributed in accordance with the amended act.

Becomes effective on the first day of the third month following passage and approval by the Governor.