Bill > HB91

This bill expands and clarifies the powers of county housing authorities in Alabama, providing them with broader capabilities to develop, manage, and finance housing and community projects. The bill significantly updates definitions and authorities' operational capabilities, allowing them to create, support, and participate in various business organizations and project types, including mixed-use developments. Specifically, housing authorities can now create subsidiaries, enter complex contractual arrangements, participate in different business structures, and make financial investments to support housing and community development projects. The bill also provides comprehensive tax exemptions for housing authorities, including exemption from state taxes on property, income, bonds, and various transactions, with the potential for additional local tax exemptions if approved by local governing bodies. The expanded powers are designed to give housing authorities more flexibility in addressing housing needs, particularly for low-income individuals, by providing them with sophisticated tools for project development, financing, and management. The changes will take effect on June 1, 2025, and retroactively validate previous actions taken by housing authorities in forming business entities.

Government Affairs

https://alison.legislature.state.al.us/bill-search