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AL HB525
Bill
Status
5/17/2017
Primary Sponsor
Lynn Greer
Click for details
AI Summary
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Amends Section 45-39-246 of the Code of Alabama 1975 to modify distribution of Tennessee Valley Authority (TVA) in-lieu-of tax payments in Lauderdale County.
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Requires the county commission to annually distribute $1,200,000 of TVA payment proceeds to a county agriculture authority once such authority is established.
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Maintains existing distribution percentages for the remaining TVA payment balance: 10% to county road and bridge fund, 30% to local school systems, and 60% to county and municipal general funds.
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Takes effect on the first day of the third month following passage and gubernatorial approval, or upon otherwise becoming law.
Legislative Description
Lauderdale County, T.V.A. distributions in lieu of tax payments, distrib. of portion to agricultural authority, Sec. 45-39-246 am'd.
Lauderdale County
Last Action
Delivered to Governor at 10:26 a.m. on May 17, 2017.
5/17/2017