AL HB343

Removes the requirement that state rural electrification authorities and electric membership corporations obtain consent from the Alabama Department of Finance before issuing bonds or other evidences of indebtedness

Power districts, improvement authorities, and highway bridge commissions would still need Department of Finance approval, including a public hearing and written approval from the Director of Finance

Entities still requiring approval must file a petition at least five days before the public hearing specifying their plan, proposed use of proceeds, and project details

The Department of Finance may only grant consent after finding the bond issuance serves a public need and is in the public interest

Effective date: October 1, 2026