HB395 Summary

• Creates the Alabama Cyber Technology Authority to promote cooperation between higher education, business, and government on cyber technology research and development, cyber security, and related educational opportunities.

• Authority composed of 20 members including directors of state agencies, university presidents/chancellors, business representatives appointed by legislative leaders, and a district attorney; members serve two-year terms and receive no compensation.

• Establishes the Alabama Cyber Technology Fund in the State Treasury to support authority operations and collaborative research projects among public universities, with all moneys received deposited into the fund.

• Authority powers include supporting cyber technology research, managing resources for federal/state/local agencies and businesses, receiving grants and contributions, acquiring property, and employing necessary personnel; authority property and income exempt from state taxation.

• Authority may be dissolved by majority vote when purposes are accomplished and obligations paid, with assets assigned to a state entity at authority's discretion; act becomes effective on the first day of the third month following passage.