Alabama HB343 removes the requirement for state rural electrification authorities and electric membership corporations to obtain approval from the.

Alabama HB343 amends Section 41-4-16 of the Code of Alabama 1975 to eliminate the necessity for state rural electrification authorities and electric membership corporations to secure approval from the Department of Finance prior to issuing bonds or evidences of indebtedness. The bill specifies that the consent of the Department of Finance is no longer mandatory for these entities to proceed with bond issuances. This change takes effect on October 1, 2026.

Alabama HB343 removes the requirement for state rural electrification authorities and electric membership corporations to obtain approval from the.

Alabama HB343 amends Section 41-4-16 of the Code of Alabama 1975 to eliminate the necessity for state rural electrification authorities and electric membership corporations to secure approval from the Department of Finance prior to issuing bonds or evidences of indebtedness. The bill specifies that the consent of the Department of Finance is no longer mandatory for these entities to proceed with bond issuances. This change takes effect on October 1, 2026.