SB501 Alabama 2012 Session
Bill Summary
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.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 3, 2012 | Read for the first time and referred to the House of Representatives committee on Economic Development and Tourism | |
| May 3, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 1076 | |
| May 3, 2012 | Third Reading Passed | |
| April 17, 2012 | Read for the second time and placed on the calendar | |
| April 10, 2012 | Read for the first time and referred to the Senate committee on Governmental Affairs |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB501 Alabama 2012 Session - Introduced |