Bill Summary for S 489 (2011-2012)
|View NCGA Bill Details||2011-2012 Session|
TO REQUIRE THE DEPARTMENT OF COMMERCE TO MAINTAIN AN ONLINE PUBLIC DATABASE AND TO POST INFORMATION ON THE INTERNET MEASURING JOB CREATION, RETENTION, AND WAGE ATTAINMENT IN NORTH CAROLINA RESULTING FROM STATE AND LOCAL GOVERNMENT ECONOMIC DEVELOPMENT INCENTIVES.Intro. by Rucho.
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Enacts new GS 143B-433.1 to 143B-433.3, to (1) require the Department of Commerce to create and maintain a publicly accessible online database containing data on each business or joint private venture the state has granted any discretionary economic development incentive (including incentives provided through the Job Development Investment Grant or the One North Carolina Fund) since January 1, 2005, but not including any project while under development or during competition with another state or nation; (2) require that the database be updated quarterly, and that it allow users to prepare custom reports through an interactive menu and full text search engine; (3) specify 17 types of data the database must contain at a minimum; (4) require the department, in addition to the database, to post on its Website a summary of all discretionary incentive grants depicted in graphical dashboard format, as specified in the act, and (5) specify reporting requirements relating to implementation of the act; any trends in the achievement of job creation, retention, and wage goals; and any action taken on grantees where clawbacks are in force and actions planned.