Russell County or a municipality therein may not lend credit or grant public funds or things of value to a private entity for economic development unless the governing body first adopts a public-purpose resolution at a public meeting and publishes at least seven days' prior notice identifying the proposed recipient and the public benefits.

Under Amendment 759, conveyances of industrial land by Russell County or a municipality must disclose the parties and money paid or received in the county's largest-circulation newspaper. A sale below the property's actual purchase and development cost requires public approval, at least 14 days' prior newspaper notice with specified property and pricing details, and a sale price no lower than the advertised price.

Amendment 759 does not authorize Russell County or its municipalities to construct residential or other buildings for lease or sale, which can restrict publicly developed data-center buildings intended for leasing or sale.

[ { "provision": "Tax increment districts": "Counties and municipalities may establish tax increment districts, use increases in ad valorem tax revenue to pay project costs or indebtedness, acquire and redevelop property, and issue related obligations. Payments cannot jeopardize bonded indebtedness secured by taxes in the district, and property conveyed to private interests must be compensated at no less than independently appraised fair market value." }, { "provision": "Economic-development property and infrastructure powers": "In counties and municipalities without a contrary local constitutional amendment, governing bodies may use public funds to acquire and develop industrial sites, including grading, roads, drainage, sewers, waste-disposal systems, parking, and utilities; lease or convey the property for industrial, commercial, research, or service facilities; provide public funds or credit; and issue obligations up to 50 percent of assessed taxable property. Private assistance requires a public-purpose resolution and at least seven days’ published notice." }, { "provision": "Capital-improvement and economic-development financing": "The Alabama Capital Improvement Trust Fund and authorized general-obligation bonds may finance economic-development costs, including site preparation, infrastructure improvements, worker training, training facilities, industrial recruitment, local-government matching funds for road and bridge grants, and municipal infrastructure. The authorized bonds are capped at $350 million, with no more than $50 million for local-government matching funds and $15 million for municipal infrastructure." }, { "provision": "Industrial-site and industrial-park support in Russell County": "Russell County and its municipalities may acquire and improve land for industrial sites or parks, including roads, drainage, sewers, waste-disposal systems, parking, and utilities, and may convey those sites for industrial, commercial, research, service, transportation, distribution, warehouse, or related facilities. The amendment does not authorize construction of buildings for lease or sale, and conveyances and below-cost sales are subject to publication and public-meeting requirements." }, { "provision": "Russell County economic-development financing powers": "Russell County and its municipalities may lend credit, grant public funds or other things of value to businesses for economic and industrial development, and may issue bonds, warrants, notes, or other obligations up to 50 percent of assessed taxable property. Assistance to a private entity requires a public-purpose determination at a public meeting and at least seven days’ published notice identifying the recipient and proposed benefits." } ]