HB66 Alabama 2020 Session

Summary

Primary Sponsor

Thad McClammy

Democrat

Session

Regular Session 2020

Title

Economic Dev, property adjacent to U.S. Air Force Base, mun. or co. authorized to form authority for development, issuance of bonds, tax exemptions

Summary

HB 66 lets counties or municipalities form Local Redevelopment Authorities near active U.S. Air Force installations to promote development, issue revenue bonds, and gain tax exemptions to support base retention and nearby redevelopment.

What This Bill Does

The bill allows an authorizing subdivision to create a local redevelopment authority (LRA) to promote redevelopment on land contiguous to an Air Force base (up to 150 acres). The LRA can raise money by issuing interest-bearing revenue bonds payable only from project revenues, and may receive municipal tax proceeds and in-lieu-of-tax payments from private users to support those projects. It also provides broad tax exemptions for the authority and related activities, and allows subdivisions to aid the authority with loans or grants without elections, with a defined governance and project-implementation framework. The bill outlines governance, powers to finance and manage projects, and processes for dissolution when debts are paid.

Who It Affects

• Local governments (counties and municipalities) that authorize and oversee the formation of LRAs and can provide funding or property transfers without elections.
• Private developers, lessees, and property owners within the local redevelopment area who may owe payments in lieu of taxes, fees, and may face foreclosure if past due assessments are not paid.

Key Provisions

• Allows formation of a Local Redevelopment Authority by a municipality or county for land contiguous to an active U.S. Air Force installation (up to 150 acres).
• Authorizes the LRA to issue revenue bonds and other securities payable solely from project revenues, with the option to pledge these revenues and related property as security.
• Gives the LRA authority to finance, construct, acquire, renovate, maintain, operate, or manage projects and to receive municipal tax proceeds and payments in lieu of taxes from private users to service debt.
• Provides income and related tax exemptions for the authority, its property, conveyances, leases, and deeds of trust; exempts from license/excise taxes and usury laws; allows payments in lieu of taxes as a funding mechanism.
• Establishes a board of directors (min 3) with staggered initial terms and ongoing six-year terms; authorizes officers and broad powers to contract, lease, operate, and manage projects.
• Creates a foreclosure process for past due assessments or payments in lieu of tax, including notice, sale, and application of proceeds to debt; authorizes competition-bid exemptions and dissolution when debts are paid.

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Counties