SB243 Alabama 2016 Session

Sponsors

Session

Regular Session 2016

Title

Universities that operate medical school, authorized to incorporate authorities to own and operate health care facilities, University Authority Act

Description

<p class="bill_description"> This bill would authorize public universities operating schools of medicine to form a new type of public corporation to be called an authority</p><p class="bill_description"> This bill would provide procedures for the incorporation, reincorporation, and dissolution of an authority</p><p class="bill_description"> This bill would prescribe powers of an authority, including the power to form university affiliates, the power of eminent domain, and the power to incur indebtedness</p><p class="bill_description"> This bill would authorize an authority to exercise its powers even if doing so would be deemed anticompetitive or monopolistic under federal or state antitrust laws</p><p class="bill_description"> This bill would authorize liens on the revenues and assets of an authority or university affiliate</p><p class="bill_description"> This bill would exempt an authority and university affiliate from state taxation and exempt indebtedness issued by an authority or university affiliate from state taxation</p><p class="bill_description"> This bill would make further findings with respect to the application and effect of this act on existing law</p><p class="bill_entitled_an_act"> Relating to universities; to enact the University Authority Act of 2016, to authorize public universities operating schools of medicine to form a new type of public corporation to be called an authority; to express legislative intent; to establish procedures for incorporation of authorities by universities; to prescribe requirements for and powers of a board of directors and officers of an authority; to prescribe powers of an authority, which includes the power to form university affiliates; to authorize authorities to exercise their powers even if the exercise of such powers would be deemed anticompetitive or monopolistic under federal or state antitrust laws; to grant authorities the power of eminent domain; to authorize authorities to issue obligations such as bonds, notes, and other evidences of indebtedness; to authorize liens on the revenues and assets of an authority or a university affiliate; to provide that obligations of an authority are not debts or other obligations of the state, any university, or any other governmental entity or public corporation; to provide that neither the state nor the sponsoring university shall act to impair the obligations of an authority; to provide that obligations issued by an authority are legal investments for trustees and other fiduciaries in the state; to authorize certain remedies upon default by an authority with respect to its obligations; to exempt authorities and university affiliates from state taxation; to exempt indebtedness issued by an authority or university affiliate from state taxation; to require each authority to provide annual audits to the sponsoring university; to authorize other public entities in the state to support authorities or university affiliates with tax revenue or otherwise; to make further findings with respect to competitive impact and antitrust immunity of authorities and university affiliates; to clarify that the act is not intended to extend sovereign immunity where otherwise not applicable under existing law or to restrict sovereign immunity where otherwise applicable under existing law; to provide that authorities and university affiliates may be entitled to certain damage limitations only under specified circumstances; to provide for reincorporation of certain existing public corporations as authorities under the act; to provide for disposition of excess revenues of an authority; to provide procedures for dissolution of an authority; to provide that the provisions of the act are cumulative; and to provide the provisions of the act are severable. </p>

Subjects

Colleges and Universities