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

HB 343 removes a requirement that Alabama's rural electrification authorities and electric membership corporations must obtain written approval from the Department of Finance before issuing bonds. Currently, these entities must file a petition with the Department, hold a public hearing, and get written consent before selling bonds. The bill eliminates this approval process, allowing them to issue bonds without prior Department review. This change directly affects rural electric utilities that rely on bond financing for infrastructure projects.