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HB 343ALABAMASession 2026rsState Billpassed chamber

Passed

Alabama removes Department of Finance approval requirement for rural electrification authority and electric membership corporation bonds

Original title: State rural electrification authorities and electric membership corporations; removes requirement for Department of Finance approval for issuance of bonds

Last action · February 10, 2026: Pending Committee Action in Second HouseSponsor: Jeff Sorrells

Companion · SB 208same policy, Senate version

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Would Do

Official description

State rural electrification authorities and electric membership corporations; removes requirement for Department of Finance approval for issuance of bonds

Why it matters

Rural electric utilities and membership corporations gain the ability to issue bonds and debt instruments without undergoing the Department of Finance petition and public hearing process.

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

State rural electrification authorities

Directly affected

Electric membership corporations

Electric membership corporations are exempt from seeking Department of Finance consent prior to issuing bonds or other evidences of indebtedness.

Directly affected

Department of Finance

The Department of Finance loses its regulatory authority to approve or deny bond issuances and debt petitions submitted by rural electrification authorities and electric membership corporations.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Which entities are affected by this change?

State rural electrification authorities and electric membership corporations are affected by the removal of the Department of Finance approval requirement.

When does this change take effect?

The act becomes effective on October 1, 2026.

What else do you want to know?

News Coverage

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Where This Stands

Currently passed chamber. The next step in the legislative lifecycle is Law.

Procedural history

8 actions

Feb 10, 2026SenateCommittee
Pending Committee Action in Second House
Feb 10, 2026SenateIntroduced
Read for the first time and referred to the Senate Committee on Fiscal Responsibility and Economic Development
Feb 10, 2026HouseFloor
Motion to Read a Third Time and Pass - Adopted Roll Call 366
Feb 10, 2026House
Third Reading in House of Origin
Feb 5, 2026House
Read for the Second Time and placed on the Calendar
Feb 4, 2026HouseCommittee
Reported Out of Committee House of Origin

Show 2 earlier actions

Jan 29, 2026HouseCommittee
Pending Committee Action in House of Origin
Jan 29, 2026HouseIntroduced
Read for the first time and referred to the House Committee on State Government

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

What This Bill Would Do

Who It Would Affect

Key Facts

Frequently Asked Questions

News Coverage

Where This Stands

Procedural history

Version history

Voting Record

Lobbying Activity

Full breakdown

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Connected Entities

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