|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
H.B. 972 VETOES
|
|
|
|
|
|
|
|
|
(4) "Private sector enterprise" means any commercial, industrial,
educational, or research organization which is not a part of or controlled by a federal,
State, or local government agency.
(5) "Executive agency" means an executive department or agency in the
Executive Branch of State government, including all offices of the Executive
Department or agency directly responsible to the Governor.
(6) "Extraordinary economic development opportunity" means the:
(i) attraction of a new private sector enterprise to the State or
retention or expansion of an existing private sector enterprise in the State that:
1. maintains a strong financial condition and minimal credit
risk profile;
2. is capable of accessing alternative sources of financing
through financial institutions or capital markets;
3. is consistent with the strategic plan of the State for
economic development;
4. creates or retains substantial employment, particularly in
areas of high unemployment; and
5. invests in capital at a level equal to five times the value of
the incentive offered;
(ii) retention or expansion of an existing public institution, private
institution, or federal research and development institute that:
1. is consistent with the strategic plan of the State for
economic development; and
2. creates or retains substantial employment, particularly in
areas of high unemployment; or
(iii) establishment or attraction of a public institution, a private
institution, or a federal research and development institute new to the State that:
1. is consistent with the strategic plan of the State for
economic development; and
2. creates or retains substantial employment, particularly in
areas of high unemployment.
(b) Subject to the provisions of this section, the Economic Development
Opportunities Program Fund is established to maximize extraordinary economic
development opportunities.
(c) The Governor may provide an appropriation in the budget bill to the Fund
for a specific or general purpose or purposes.
|
|
|
|
|
|
|
|
|
|
- 4696 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
