Bill Summaries: H848 (2015-2016 Session)

  • Summary date: Apr 17 2015 - View summary

    Amends GS 143B-437.01 as the title indicates. Provides that the areas that may receive funds from the Industrial Development Fund Utility Account (Utility Account) are those identified as the most economically distressed areas in the state in creating jobs (was, the most economically distressed counties in the state in creating jobs). Makes additional conforming and clarifying changes to provide that the Utility Account funds are to be used in economically distressed areas. Defines economically distressed areas(was, economically distressed county) to mean any of the following: (1) a county defined as a development tier one or two area under GS 143B-437.08 after the adjustments of that section are applied; (2) an urban progress zone, as defined in GS 143B-437.09; and (3) an agrarian growth zone, as defined in GS 143B-437.010.