SB325 Alabama 2020 Session

Updated Feb 23, 2026

Summary

Primary Sponsor: Arthur OrrSenator
Republican
Session: Regular Session 2020
Title: Morgan Co., economic development, distrib. of certain payments made in lieu of taxes by the Tennessee Valley Authority, provided further the jurisdiction of the Morgan Co. Industrial Park and Economic Development Cooperative District, Act 2007-339, 2007 Reg. Sess., am'd.
Summary: SB325 updates Morgan County law to govern TVA in-lieu-of-taxes payments and expands the District's power to acquire land and build facilities for economic development.
What This Bill Does
The bill amends existing law to clarify how TVA in-lieu-of-taxes payments are distributed and sets out the district’s expanded duties. It broadens the Morgan County Industrial Park and Economic Development Cooperative District’s powers to acquire land and to construct, install, and maintain buildings, facilities, and related property for economic development within Morgan County and its municipalities. It also establishes that the allocations for debt service on district obligations are a contractual obligation to bond owners and remain in effect until all debt is paid in full.

Who It Affects
Morgan County and its municipalities (Decatur, Hartselle, Eva, Falkville, Priceville, Somerville, Trinity) by gaining expanded ability to fund and implement economic development projects and acquire land or facilities.
Owners of the District's Obligations (bondholders), who are protected by a contractual commitment to be paid principal, interest, and any premiums from TVA in-lieu-of-taxes distributions.

Key Provisions
expands the District's jurisdiction to include the acquisition of land and the acquisition, construction, and installation of buildings, facilities, personal property, and structures for economic development within Morgan County and its municipalities.
clarifies and consolidates the TVA in-lieu-of-taxes payment process, confirms distributions approved under prior acts, and states that allocations to service district obligations constitute a contract with bond owners that remains in effect until all debt is paid in full.

AI-generated summary using openai/gpt-5-nano on Feb 23, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Economic Development