FN-T4TQ955-1
Page 1
FISCAL NOTE
House Bill 372
Committee: Economic Development and
Tourism
Sponsor: Representative Randall Shedd
Analyst: Jennifer Farish Date: 04/02/2024
House Bill 372 as introduced would establish the "Alabama Growth Alliance" as a public
corporation to coordinate the creation and maintenance of the state's long-range economic
development strategy and governed by an eleven-member board of public and private leaders
who would serve without compensation but may be reimbursed for actual and reasonable travel
expenses, which could increase the obligation of the Alliance by an estimated $2,000 per
meeting.
This bill could further increase the obligation of the Alliance by an undetermined amount
dependent on: 1) the compensation of employees of the Alliance; 2) any monies granted or
lended to certain entities; and 3) any other actions taken to fulfill the obligations of the Alliance.
This bill would also allow the Alliance to contract with and accept funds from certain entities
and would exempt the Alliance from state procurement and bid law.