SB361 Alabama 2018 Session

Updated Feb 26, 2026

Notable

Summary

Primary Sponsor: Larry StuttsSenator
Republican
Session: Regular Session 2018
Title: Colbert Co., gas tax proceeds required to pay off debt obligations for Shoals Economic Development Project, Sec. 45-17-90.52 am'd.
Summary: Colbert County would dedicate all gasoline and motor fuel tax proceeds to paying the Shoals Economic Development Project debt, and restrict funds to project-related uses.
What This Bill Does
It amends the law to require that the gas and motor fuel excise tax proceeds be used exclusively for Shoals EDP costs and debt service. The county may pledge these tax proceeds to principal, interest, and premiums on securities for the Shoals EDP, and such pledge would have the force of a contract with the security holders. If pledged, the tax proceeds could be deposited directly with the paying agent or trustee. The bill also forbids using any of these funds for the Florence River Heritage Trail. It becomes effective on the first day of the third month after the governor signs it.

Who It Affects
Colbert County government (County Commission and any local public corporations) would be required to use tax proceeds for Shoals EDP debt service and limit expenditures to Shoals EDP-related costs.
Colbert County residents and taxpayers would see gasoline and motor fuel tax revenues redirected toward debt service for the Shoals EDP, potentially reducing other uses for those funds.

Key Provisions
The tax proceeds may be pledged to payment of principal, premium, and interest on securities for the Shoals EDP; the pledge has the force of a contract between the county, any local public corporation, and the security holders.
Expenditures from the special fund are limited to Shoals EDP costs, including highways and roads; utilities; property acquisition; development or improvement of real estate and structures; other development costs; debt service costs; and administration/enforcement.
No monies from the special fund or from securities proceeds may be spent on the Florence River Heritage Trail.
If the county pledges the tax proceeds, the funds may be deposited directly with the paying agent or trustee of the securities (by the county or by the state Department of Revenue if it collects the tax).
The act becomes effective on the first day of the third month after it is passed and approved by the governor.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Gasoline Tax