Legislative Session number- 81

Bill Name: SF2893

E Modifying and clarifying certain provisions regulating business subsidies;
excluding assistance for designated historic preservation districts and tax
increment financing (TIF) hazardous substance subdistricts, funds from bonds
issued to refund outstanding bonds or issued for the benefit of certain
organizations, federal assistance until repaid to and reinvested by the state or
local government agency, funds from dock and wharf bonds issued by seaway
authorities, certain lower business loans and loan guarantees and certain
federal loan funds from regulation; including increasing the tax base as a
public purpose; modifying certain subsidy award criteria requirements, requiring
the submittal of copies to the department of trade and economic development with
the first annual report; modifying certain subsidy agreement and public notice
and hearing requirements; clarifying and modifying certain reporting
requirements; requiring annual DTED publication of a compilation of granting
agency criteria policies adopted in the previous year; requiring wage and job
goals to contain specific goals to be attained within a certain number of years
of the benefit date and the statement to specify the obligations of recipients
not attaining the goals, authorizing the legislature after public hearing to
extend the period for meeting the goals; providing a transition period for
certain granting agencies to comply with certain additional minimum criteria
requirements; providing for the noneffect of the repeal of a certain provision
specifying certain wage and job requirements of businesses receiving state or
local government assistance for economic development or job growth purposes to
assistance received between certain dates (mk, ja)