Alabama SB333 grants additional powers to industrial development boards in Class 2 municipalities, including issuing bonds and managing development.

Alabama SB333 amends the powers of industrial development boards in Class 2 municipalities. The bill allows these boards to issue and sell bonds, acquire, construct, expand, improve, replace, equip, maintain, operate, lease, and dispose of development projects. These projects must advance public purposes such as creating employment, expanding the tax base, eliminating blight, providing industrial facilities, and supporting housing. The changes become effective on October 1, 2026.

Alabama SB333 grants additional powers to industrial development boards in Class 2 municipalities, including issuing bonds and managing development.

Alabama SB333 amends the powers of industrial development boards in Class 2 municipalities. The bill allows these boards to issue and sell bonds, acquire, construct, expand, improve, replace, equip, maintain, operate, lease, and dispose of development projects. These projects must advance public purposes such as creating employment, expanding the tax base, eliminating blight, providing industrial facilities, and supporting housing. The changes become effective on October 1, 2026.