JDIG MODIFICATION AND OTHER CHANGES. (NEW)

View NCGA Bill Details2021
Senate Bill 493 (Public) Filed Thursday, April 1, 2021
AN ACT TO MODIFY MULTILOCATION PROJECT ENHANCEMENT FOR THE JOB DEVELOPMENT INVESTMENT GRANT PROGRAM; AND TO REPEAL A PROVISION CONCERNING CONFESSION OF JUDGMENT.
Intro. by Newton, Craven.

Status: Ref To Com On Rules and Operations of the Senate (Senate action) (Jul 1 2022)

SOG comments (1):

Long title change

House amendment to the 2nd edition changes the long title. Previous long title was AN ACT TO MODIFY MULTILOCATION PROJECT ENHANCEMENT FOR THE JOB DEVELOPMENT INVESTMENT GRANT PROGRAM.

 

Bill History:

S 493

Bill Summaries:

  • Summary date: Jul 1 2022 - More information

    House amendment makes the following changes to the 2nd edition. 

    Subject to House Bill 911 becoming law, adds a new section to repeal Section 11 of that act, which amends GS 53-181(c) to specify that subsection (c) of that statute does not prohibit a consumer finance licensee from taking a confession of judgment from a borrower following the borrower's failure to make a payment as required under a loan contract. 

    Changes the act's titles. 


  • Summary date: Apr 27 2021 - More information

    Senate amendment makes the following changes to the 1st edition. 

    Revises the proposed additions to GS 143B-437.56A, now mandating a 20% rather than a 10% increase of the annual grant approved for disbursement payable to a qualifying business under the Job Development Incentive Grant (JDIG) Program, subject to the previously specified qualifications. 


  • Summary date: Apr 5 2021 - More information

    Adds new provisions to GS 143B-437.56A, which governs multilocation projects under the Job Development Incentive Grant (JDIG) Program, as follows. Mandates a 10% increase of the annual grant approved for disbursement payable to a qualifying business. Provides that the amount of the increase is not to be used in calculating award limitations under the program. Sets qualifications for the increase, including (1) that the business was awarded the grant for locating a company headquarters, (2) that the business announces during the base period for relocation from another state to a development tier one or two area a manufacturing operation of the business or a business that controls, is controlled by, or is under common control of the business, (3) the relocation will result in the business creating a number of positions to be filled by new full-time employees in the State equal to or greater than the applicable minimum number of jobs required by law under JDIG (10 for tier one, 20 for tier two, 50 for tier three), and with withholdings equal to or greater than the amount of the bonus permitted under the statute for multilocation projects, and (4) the positions required are filled for the year in which the annual grant is increased. 

    Amends GS 143B-437.56 to no longer provide for the JDIG grant amount for projects located in more than one area designation to be based on the percentage of the withholdings of eligible positions for the location with the highest area designation. Maintains the percentages of 80% for tier one areas and 75% for tier two areas. 


  • Summary date: Apr 1 2021 - More information

    To be summarized.


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