AL SB243

Proposes a constitutional amendment to authorize the Legislature to allow counties and municipalities to incorporate innovation districts as public corporations with specified governance, operations, and powers.

Authorizes the Legislature to exempt innovation districts from the applicability and compliance of specified state laws as determined by the Legislature.

Permits the state, counties, municipalities, public corporations, and taxing authorities to provide public funds, revenues, property, and services to innovation districts without an election, regardless of the district's jurisdiction or location.

Allows innovation districts, in their sole discretion, to provide any public funds, revenues, or property under their control to any public or private person or entity.

Amendment becomes effective upon ratification by a majority of qualified electors voting on the measure in an election held under existing constitutional procedures.