HB487 Summary

• Amends Alabama Code Section 45-48-161 to revise the distribution of Tennessee Valley Authority in-lieu-of-taxes payments for Marshall County.

• Allocates 25% of total TVA payments to Marshall County school boards (including Albertville, Arab, Guntersville, and Boaz) based on student enrollment on the last day of the first monthly attendance report.

• Allocates 4% of remaining funds (minimum $200,000) to the Marshall County Legislative Delegation Office, with unused funds available for educational or economic development purposes by unanimous legislative consent.

• Distributes remaining funds to the Marshall County Economic Development Office ($232,000 minimum), Marshall County Commission for school resource officers ($30,000), and various organizations including Mountain Lakes Behavioral Health Care, ambulance services, domestic violence coalition, and seniors services.

• Takes effect June 1, 2024.