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AL SB325

Bill

Official Source

Status

Passed

5/8/2020

Primary Sponsor

Arthur Orr

Click for details

Origin

Senate

Regular Session 2020

AI Summary

SB325 Summary

  • Amends Act 2007-339 to modify the distribution of Tennessee Valley Authority (TVA) in-lieu-of-tax payments received by Morgan County Commission.

  • Expands the jurisdiction of the Morgan County Industrial Park and Economic Development Cooperative District to include acquisition of land and interests therein throughout Morgan County and its municipalities.

  • Authorizes the District to acquire, construct, and install buildings, facilities, personal property, and structures for economic development purposes within Morgan County and each municipality therein.

  • Ratifies and validates all prior distributions and payments of TVA in-lieu-of-tax monies made by Morgan County Commission under previous related acts (2007-339, 2007-491, 2008-456, and 2015-36).

  • Becomes effective immediately upon passage and approval by the Governor.

Legislative Description

Morgan Co., economic development, distrib. of certain payments made in lieu of taxes by the Tennessee Valley Authority, provided further the jurisdiction of the Morgan Co. Industrial Park and Economic Development Cooperative District, Act 2007-339, 2007 Reg. Sess., am'd.

Economic Development

Last Action

Delivered to Governor at 12:47 p.m. on May 8, 2020

5/8/2020

Committee Referrals

Local Legislation5/6/2020
Local Legislation5/4/2020

Full Bill Text

No bill text available