AL SB235

Transfers all fiduciary responsibility and duties of the Etowah County Mega Sports Complex Authority to the City of Rainbow City effective October 1, 2025, with all authority revenue transmitted to the city's designated division.

Authority shall consist of members appointed by local legislative delegation from House Districts 28, 29, and 30, plus Senate District 10, along with representatives from the Etowah County Chamber of Commerce, Tourism Board, and City of Rainbow City.

Authority members must attend at least quarterly meetings; members are removed after three consecutive unexcused absences or missing more than half of meetings in a calendar year.

T.V.A. in-lieu-of-taxes payments retained by Etowah County shall be distributed to the authority for financing and operation of a mega sports complex, with additional funds applied first toward payment of existing debts.

Authority shall be dissolved on or before June 1, 2048, and immediately upon full payment of all debts existing as of October 1, 2022; all remaining assets including real property, buildings, and equipment transfer to the City of Rainbow City.