AL HB416

Establishes the Cleburne County Economic Development Authority to negotiate industrial and economic development matters for the county, with a 5-member board of directors appointed by county commissioners serving staggered initial terms of 2, 4, and 6 years, followed by 4-year terms.

Grants the authority standard powers of local industrial development authorities, including tax abatement, bond issuance, and property acquisition, though local tax abatements require approval from the governing body where the tax is levied.

Prohibits tax abatements or exemptions to board members, the director, employees, their spouses or dependent children, or any businesses with which these individuals are associated.

Authorizes funding through Cleburne County Commission appropriations, county tobacco sales tax revenue, government grants, and private donations.

Takes effect October 1, 2026, with the board required to hold an organizational meeting by November 1, 2026.