HB181 Alabama 2025 Session

Summary

Primary Sponsor

Kerry UnderwoodRepresentative

Republican

Session

2025 Regular Session

Title

Alabama Building Renovation Authority, additional bonds authorized, bond sale provisions clarified

Summary

This bill lets the Alabama Building Renovation Finance Authority issue up to $50 million in bonds to fund construction and renovation of public buildings and related facilities, and clarifies how those bonds can be sold.

What This Bill Does

It authorizes the Authority to issue bonds totaling up to $50 million for authorized projects including construction, renovation, land for parking, equipment, and operation/maintenance of public office facilities (such as the State Capitol). Bonds may be issued in series and sold by public, private, or negotiated methods, with pricing aimed at the lowest true borrowing cost; unacceptable bids can be rejected. Notice of sales must be published in appropriate financial publications and a state newspaper at least 10 days before sale, and the Governor must approve the sale terms, with that approval recorded in the board minutes. The act also clarifies definitions and repeals conflicting laws, and becomes effective immediately upon passage and governor approval.

Who It Affects

• The Alabama Building Renovation Finance Authority — gains authority to issue up to $50 million in bonds and to determine how those bonds are sold and used.
• Public buildings and related facilities in Alabama (including the State Capitol) — may receive funding and improvements financed by the bond proceeds, along with associated costs for issuance, maintenance, and operations.

Key Provisions

• Authorizes the Authority to issue bonds up to fifty million dollars ($50,000,000) to fund construction, renovation, reconstruction, improvement, alteration, addition, demolition, paving/ resurfacing of land for parking and other uses to produce revenue, and the equipment, operation, and maintenance of public office building facilities (including the State Capitol) and related improvements, plus paying issuance costs.
• Bonds may be sold in series and may be issued under one initial resolution with series-specific details in subsequent resolutions; sale can be public, private, or negotiated, at prices determined to achieve the lowest effective borrowing cost; bids that are not acceptable may be rejected; notices of sale must be published in NY financial publications and in a state newspaper, with at least 10 days’ notice before sale; governor’s approval is required for sale terms and must be recorded in the minutes.
• Defines key terms (Authority, Bonds, 1990 Act, 1998 Act, 2006 Act) and clarifies that any conflicting laws are repealed; the act becomes effective immediately upon passage and governor approval.

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

Subjects

Government Administration