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AL HB387
Bill
Status
5/23/2023
Primary Sponsor
Terri Collins
Click for details
AI Summary
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Allocates $400,000 annually from Tennessee Valley Authority in-lieu-of-taxes payments to Calhoun Community College for fiscal years beginning October 1, 2023 through October 1, 2032 to build Phase III of the Alabama Center for the Arts in downtown Decatur.
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Requires the college to initiate the project by the 2023-2024 fiscal year or funds will be held in an account for future legislative appropriation; project must commence before October 1, 2024.
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Distributes up to $275,000 annually for fiscal years beginning October 1, 2022 through October 1, 2026 to the Community Foundation of Greater Decatur, Inc., with funds divided by legislative district recommendations and distributed based on House and Senate district populations in Morgan County.
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Directs all remaining in-lieu-of-taxes payments from Act 2010-135 to the Morgan County legislative delegation office annually after the above distributions.
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Becomes effective immediately upon passage and Governor approval.
Legislative Description
Relating to Morgan County; to provide further for the distribution and expenditure of in-lieu-of-taxes payments received from the Tennessee Valley Authority distributed to Morgan County.
Morgan County, TVA in-lieu-of-tax payments under Act 2010-135, distribution
Last Action
Enacted
5/23/2023