HB274 Summary

• Establishes the Military Stability Program within the State Treasury to retain and expand Alabama's military installations through funding for public projects that protect areas from potential realignment or closure.

• Requires recipients to submit documentation showing impact of military installation closure, a plan for local matching funds for public projects, and certification from at least one local governmental entity (unless the recipient is itself a local government).

• Grants the Alabama Job Creation and Military Stability Commission authority to award program funds, monitor expenditures for compliance, and consider misuse of funds as a factor in determining future awards.

• Mandates the commission submit annual reports to the Legislature no later than the 15th legislative day of the regular session following any year funds were appropriated or disbursed.

• Exempts all documents created under this act from public inspection and becomes effective on the first day of the third month following passage and Governor approval.