Alabama 2025 Regular Session

Alabama Senate Bill SB334 Compare Versions

Only one version of the bill is available at this time.

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1	1	SB334INTRODUCED
2	2	Page 0
3	3	SB334
4	4	9JV91BB-1
5	5	By Senator Melson (N & P)
6	6	RFD: Local Legislation
7	7	First Read: 22-Apr-25
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12	12	5 9JV91BB-1 03/20/2025 THR (L)THR 2025-1365
13	13	Page 1
14	14	First Read: 22-Apr-25
15	15	A BILL
16	16	TO BE ENTITLED
17	17	AN ACT
18	18	Relating to Lauderdale County; to amend Section
19	19	45-39-245.47, Code of Alabama 1975, to further provide for the
20	20	proceeds of the sales and use tax.
21	21	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
22	22	Section 1. Section 45-39-245.47, Code of Alabama 1975,
23	23	is amended to read as follows:
24	24	"§45-39-245.47
25	25	(a) The entire proceeds derived by the county from the
26	26	taxes herein authorized to be levied, including any income
27	27	derived from the investment of such proceeds, shall be paid
28	28	over and deposited, promptly upon receipt thereof, into a
29	29	separate and distinct fund or account of the county, which
30	30	shall be accounted for as other county funds.
31	31	(b)The Beginning October 1, 2025, each month the
32	32	governing body of the county shall cause all such the proceeds
33	33	collected pursuant to this subpart , less the cost of
34	34	collection provided for in Section 45-39-245.44, and any other
35	35	expenses that may be lawfully payable by such governing body
36	36	out of such proceeds, to be transferred and deposited as
37	37	follows:, not more than 30 days after receipt thereof by the
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65	65	28 SB334 INTRODUCED
66	66	Page 2
67	67	follows:, not more than 30 days after receipt thereof by the
68	68	county, into the Shoals Economic Development Fund; and such
69	69	proceeds shall thereafter be applied and used by the committee
70	70	and the authority only for the purposes, and otherwise in
71	71	compliance with all the requirements, specified, or to be
72	72	specified, in Subpart 2, commencing with Section 45-17-91.20,
73	73	of Part 2 of Article 9 of Chapter 17 of this title
74	74	(1) An amount equal to one-twelfth of the total amount
75	75	contributed to the Shoals Economic Development by Colbert
76	76	County in the previous fiscal year .
77	77	(2) Fifty-five percent of the amount remaining after
78	78	the distribution made pursuant to subdivision (1) to the
79	79	Lauderdale County Commission for economic development purposes
80	80	in the county.
81	81	(3) Forty-five percent of the amount remaining after
82	82	the distribution made pursuant to subdivision (1) to the City
83	83	of Florence for economic development purposes in the city. "
84	84	Section 2. This act shall become effective on June 1,
85	85	2025.
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