HB733 Alabama 2012 Session

Signed by Governor

Bill Summary

Sponsors

Session

Regular Session 2012

Title

Commercial development authorities, formation, requirement that incorporator be a natural person or qualified elector remove; Secs. 11-54-171, 11-54-173, 11-54-174, 11-54-178, 11-54-190 am'd

Description

Under existing law, a commercial development authority may incorporate in any municipality in the state for the purpose of acquiring, owning, or leasing projects that develop and promote commercial enterprises in the municipality

This bill would define person for purposes of forming a commercial development authority to include a limited liability company or a partnership. This bill would remove the requirement that the authority be formed by not less than three natural persons. This bill would also remove the requirement that an incorporator of a commercial development authority be a qualified elector of the municipality where the authority is being formed

Relating to commercial development authorities; to amend Sections 11-54-171, 11-54-173, 11-54-174, 11-54-178, and 11-54-190, Code of Alabama 1975; to provide further for the formation of a commercial development authority; and to remove the requirement that an incorporator be a qualified elector of the municipality where the authority is being formed.

Subjects

Public Authorities

Bill Actions

Action Date	Chamber	Action
May 16, 2012		Forwarded to Governor at 10:40 p. m. on May 16, 2012.
May 16, 2012		Assigned Act No. 2012-538.
May 16, 2012		Clerk of the House Certification
May 16, 2012		Signature Requested
May 16, 2012		Enrolled
May 16, 2012		Passed Second House
May 16, 2012		Motion to Read a Third Time and Pass adopted Roll Call 1475
May 16, 2012		Third Reading Passed
May 9, 2012		Read for the second time and placed on the calendar
May 3, 2012		Read for the first time and referred to the Senate committee on Finance and Taxation General Fund
May 3, 2012		Motion to Read a Third Time and Pass adopted Roll Call 1204
May 3, 2012		Third Reading Passed
April 26, 2012		Read for the second time and placed on the calendar
April 19, 2012		Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism