HB406 Summary

• Amends Sections 24-1-61 and 24-1-66 of the Alabama Code to expand powers of county housing authorities, including authority to develop mixed-use projects combining housing with commercial, retail, office, medical, recreational, or other components.

• Authorizes housing authorities to participate in any lawful business organization, create subsidiaries or affiliates, and enter into various development agreements including design-build and lease arrangements for housing projects and community facilities.

• Establishes that corporate agents wholly owned by housing authorities and meeting specified criteria are governmental entities under Chapter 93 of Title 11, subjecting tort suits against them to liability limitations applicable to governmental entities.

• Validates all previous creation, establishment, incorporation, or formation by housing authorities of business entities wholly owned by the authority, together with all proceedings and acts undertaken prior to June 1, 2024.

• Exempts county housing authorities and their property, income, bonds, and related conveyances and mortgages from all state taxes; allows authorities to request exemption from local taxes by resolution; and exempts housing authorities from probate court fees and costs.