AL SB503

Amends Act No. 80-277 to modify distribution of Madison County's Tennessee Valley Authority in-lieu-of-taxes payments, allocating one percent annually to equip and maintain a legislative delegation office.

Madison County Legislative Delegation Office receives funds for staff employment, office space, equipment, supplies, and grants for allowable public purposes, with decisions made by concurrent majority resolution of Senators and House members.

Remaining funds distributed as: 71 percent to county and municipal school systems by average daily attendance, 9 percent to Madison County General Fund, and 20 percent to incorporated municipalities based on population ratios.

Any fiscal year growth exceeding 2.5 percent above the prior year is distributed to the Madison County Legislative Delegation Office, excluding the 3 percent allocation from Act 2006-655.

Any funding increase from Act 2010-135 is distributed to the Madison County Legislative Delegation Office; act becomes effective immediately upon passage and gubernatorial approval.