HB405 Summary

• Amends Sections 24-1-22 and 24-1-27 of the Code of Alabama 1975 to update definitions and terminology related to municipal housing authorities to current legislative style.

• Expands powers of municipal housing authorities to include operations involving mixed-use projects, business organizations, subsidiaries, affiliates, and design-build contracting arrangements, with compliance required to Title 39 when using state or local public funds.

• Exempts municipal housing authorities from all state taxes, including taxes on the authority's property, income, issued bonds, bond income, conveyances, leases, mortgages, and deeds of trust.

• Allows housing authorities to be exempted from county, municipal, or other political subdivision taxes if approved by local resolution or ordinance, and exempts authorities from all fees and costs imposed by judges of probate.

• Validates all previous creation, incorporation, or formation of business entities wholly-owned by housing authorities and all proceedings or actions undertaken prior to June 1, 2024.