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AL HB527
Bill
Status
5/17/2017
Primary Sponsor
Johnny Morrow
Click for details
AI Summary
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Amends Section 45-39-90, Code of Alabama 1975, to modify distribution of Lauderdale County Community Development Fund proceeds.
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After establishment of an agriculture authority in Lauderdale County, fund proceeds shall be split with two-thirds distributed to the Community Development Commission and one-third distributed to the agriculture authority.
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Community Development Fund comprises additional three percent of TVA in-lieu-of-tax payments received beginning with fiscal year October 1, 2006.
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Funds support economic development, education, recreation, conservation, fire protection, and purposes authorized under Section 29-2-120.
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Act becomes effective on the first day of the third month following passage and Governor approval, or upon otherwise becoming law.
Legislative Description
Lauderdale Co., Community Development Fund, created, proceeds from fund expended equally between commission and authority, after creation of an agriculture authority, Sec. 45-39-90 am'd.
Lauderdale County
Last Action
Forwarded to Governor on May 17, 2017 at 5:13 p.m. on May 17, 2017.
5/17/2017