AL HB700

Creates the Alabama Cyber Technology Authority to encourage cooperation between higher education, business, and government in developing cyber technology projects in the state.

Authority composed of 15 members including presidents of Auburn University and University of Alabama at Birmingham System, state agency directors, legislators, and federal representatives, with Auburn and UAB alternating as chair and staff provider every two years.

Authority authorized to investigate and support cyber technology research, establish secure facilities and networks, institute legal proceedings, enter contracts, receive grants and donations, and make resources available to government agencies and businesses for classified and non-classified projects.

Establishes the Alabama Cyber Technology Fund within the State Treasury to receive all fees, grants, gifts, and appropriations for the authority's exclusive operation, with fund balances reappropriated annually.

Authority designated as nonprofit corporation exempt from state taxation; authority contracts and obligations do not create state debts; authority may be dissolved by majority member vote when purposes are accomplished and obligations paid.