Bill > SB336

This bill authorizes counties and Class 1 municipalities in Alabama to establish "Research and Development Corridors" as public corporations with the power to provide resources and support for qualified enterprises, such as those in advanced manufacturing, bioscience, and information technology. The bill outlines the process for incorporating a corridor, its governance structure, and the powers it can exercise, including the ability to issue financial obligations and receive public funding and tax abatements. The bill aims to encourage the development and growth of innovative economic opportunities in the state.