Constitutional Amendment; Department of Commerce; Lending authorized

This bill proposes a constitutional amendment to allow the Alabama Department of Commerce to issue low-interest loans to automotive manufacturers and suppliers operating within the state. Currently, the Alabama Constitution prohibits the state from lending money or its credit to individuals or organizations, but this amendment would create an exception specifically for the automotive industry. The loans would be authorized under the Automotive Supply Chain Resilience and Expansion Act, which is not detailed in this text. If approved by voters, this change would modify Section 93 of the 2022 Alabama Constitution to permit these financial transactions. The amendment requires a majority vote from qualified electors in a statewide election to take effect.