HB490 Summary

• Amends the composition of the Escambia County Industrial Development Authority to allow the county commission to authorize additional non-voting ex officio members who are not required to be county residents or electors, provided the contributing entity donates at least $10,000 annually for authority operations.

• Modifies Section 45-27-90 to clarify membership requirements and allow for non-resident, non-elector participation through ex officio appointments.

• Changes fund carryover provisions in Section 45-27-246.02 so that unexpended state oil and gas tax appropriations are carried over year-to-year by the authority for future expenditure, rather than being returned to the county general fund.

• Removes the September 20, 1982 deadline and replaces it with a September 30 annual deadline for determining which funds should be carried over from one fiscal year to the next.

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