SB369 Summary

• Amends Section 40-13-58 of the Code of Alabama 1975 to redirect severance tax revenue collected from Franklin County to the Franklin County Development Authority instead of the county commission.

• Requires Franklin County's severance tax revenue to be allocated and utilized exclusively for economic development authority activities, rather than roads and other purposes available to other counties.

• Maintains existing provisions for other counties to use at least 75 percent of severance tax revenue for road construction, maintenance, repair, local economic development, public transit, or land reclamation.

• Preserves the requirement that 25 percent of severance tax funds from materials severed within municipal corporate limits be expended on county roads or authorized projects within those municipalities.

• Becomes effective immediately upon passage and approval by the Governor.