Bill Summary for H 1031 (2013-2014)

Summary date: 

Jun 10 2014

Bill Information:

View NCGA Bill Details2013-2014 Session
House Bill 1031 (Public) Filed Wednesday, May 14, 2014
Intro. by Murry.

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Bill summary

House amendments make the following changes to the 3rd edition.

Provides that the duties of the Economic Development Accountability & Standards Committee (Committee), established in this act, include a biennial audit of the records of the North Carolina nonprofit corporation with which the Department of Commerce has contracted under this section, by the Office of State Budget and Management, State Auditor, or internal auditors of the Department (was, by the Office of State Budget and Management).

Also makes an amendment regarding the composition of the 17-member nonprofit corporation's governing board. Directs the Governor, who appoints 8 members and the chair, to select appointed members so that two-ninths come from a development tier one area, two-ninths from a development tier two area, and no more than two members come from the same Collaboration for Prosperity Zone. Directs the Speaker of the House and the President Pro Tempore of the Senate, who appoint four members each, to select their appointed members so that one-fourth come from a development tier one area and one-fourth from a development tier two area, and no two members come from the same Collaboration for Prosperity Zone.

Provides that at least 25 percent of the funds raised by the nonprofit corporation from sources other than the state must be used for the benefit of or for salaried positions located in or working solely on development in development tier one or two areas, as defined in GS 143B-37.08.

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