AL HB358

Creates a Jackson County Economic Development Fund to receive 1% of TVA in-lieu-of-taxes payments, with funds accumulating until reaching $1,000,000 and available for disaster relief, job creation incentives, industry recruitment, and matching grants for industrial development.

Allocates TVA payment distributions as follows: $145,000 annually to Jackson County Hospital Board for ambulance service; $35,000 to Scottsboro-Jackson County Rescue Squad; $105,000 to Jackson County Economic Development Authority; and $75,000 to the authority's industrial development fund.

Increases volunteer fire department funding from $5,000 to $7,500 per department annually, plus $35,000 to the Jackson County Association of Volunteer Fire Departments, and allocates $40,000 to Greater Jackson County Chamber of Commerce for tourism, workforce development, and economic development.

Modifies distribution of remaining TVA payments to increase public school allocation from 33.50% to 36%, municipalities from 25% to 29.50%, and adjusts discretionary fund allocation to 30.50% for county commissioners to disburse by majority vote.

Effective date follows passage and gubernatorial approval or becomes law automatically; requires annual financial accounting from funding recipients to Jackson County Commission by September 30.