SB411 Summary

• Amends the distribution formula for TVA in-lieu-of-taxes payments received by Limestone County to provide for additional allocations from a three percent payment increase generated by Act 2006-655.

• Distributes $293,000 in fixed allocations to various county entities including Auburn University ($40,000), libraries ($40,500 combined), and 13 volunteer fire departments ($12,000 each).

• Allocates the three percent payment increase first to ten specific entities totaling $352,000 (including Athens-Limestone Public Library $50,000, Calhoun Community College $25,000, and Athens State University $50,000), with remaining amounts split equally between City of Athens and Limestone County Commission for Elm Industrial Park debt and economic development.

• Establishes a separate fund from any increases generated by Act 2010-135 to establish and maintain a legislative office for state legislators serving the county, with governance by concurrent majority vote of the county delegation and annual audits required.

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