HB368 Alabama 2024 Session

Summary

Primary Sponsor

Neil Rafferty Representative

Democrat

Session

Regular Session 2024

Title

Economic development; state law authorizing counties and municipalities to provide for innovation districts as public corporations authorized; innovation district use of public funds for public or private persons authorized; constitutional amendment

Description

Under the constitution, the state may not lend money or lend its credit except as expressly authorized by the constitution and may not incur certain debt.

Also under the constitution, the Legislature may not authorize any county or municipality to lend its credit or grant public money to any person.

This bill would propose an amendment to the Constitution of Alabama of 2022, to authorize the Legislature, by law, to authorize counties and municipalities to provide for the incorporation of innovation districts as public corporations and provide for their powers and to exempt innovation districts from certain laws.

This bill would authorize the Legislature, by law, to authorize the state and political subdivisions of the state, without an election, to provide for use of public funds, revenues, property, and services to, or for the benefit of, innovation districts.

This bill would authorize the Legislature, by law, to authorize innovation districts to provide any public funds, revenues, or property of or under the control of innovation districts to, or for the benefit of, any public or private person or entity.

HB368 INTRODUCED.

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Subjects

Constitutional Amendments Statewide