HB43 Summary

• Increases the Alabama Municipal Electric Authority board size from 9 members to equal the number of municipalities contracting with the authority for electric power (currently 13 municipalities).

• Allows the board to provide compensation to members by unanimous vote, capped at $600 per meeting actually attended, while maintaining expense reimbursement.

• Removes the requirement that the auditing firm be nationally recognized, allowing selection of any independent auditing and accounting firm.

• Specifies that new board members added to reflect the increased membership shall have staggered terms to maintain continuity.

• Takes effect immediately upon passage and approval by the Governor.