AL SB286

Amends Section 45-44-90 of the Code of Alabama 1975 to modify provisions governing the Macon County Economic Development Authority, which aids current industries and develops new industries to provide job opportunities.

Authorizes the Macon County Economic Development Authority to incorporate or reincorporate as an authority under Chapter 92A of Title 11, with board members remaining the same as specified in Section 45-44-90.01.

Allows funds distributed to the authority or any successor authority to be expended or pledged for economic development purposes in Macon County, including securing and repaying loans for economic development.

Clarifies that powers, privileges, duties, and exemptions granted to a newly incorporated or successor authority do not replace, negate, or limit the original purposes, powers, or funding sources of the Macon County Economic Development Authority.

Becomes effective immediately upon passage and approval by the Governor or upon otherwise becoming law.