Bill > HB406

This bill amends the existing law to further expand the powers of county housing authorities in Alabama. Key provisions include: - Defining key terms related to housing authorities, such as "mixed-use project" and "community facilities." - Granting additional powers to housing authorities, such as the ability to participate in and support various business organizations, enter into various contracting arrangements, and create subsidiaries or affiliates. - Exempting housing authorities, their property and income, as well as bonds and related transactions, from state and local taxes, with local government approval. - Exempting housing authorities from fees, taxes, or other costs imposed by probate judges. - Validating any prior creation of business entities by housing authorities. - Requiring compliance with state procurement laws when using state or local funds. The bill aims to provide county housing authorities in Alabama with broader legal authority and financial flexibility to support affordable housing and community development initiatives.