AN ACT TO AUTHORIZE CERTAIN CHANGES TO LOCAL DEVELOPMENT FOR THE CITY OF WINSTON-SALEM. Summarized in Daily Bulletin 3/2/11 and 5/5/11. Enacted June 15, 2011. Effective June 15, 2011.
Bill Summaries: H207 LOCAL DEVELOPMENT FOR WINSTON-SALEM.
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Summary date: Jun 15 2011 - View Summary
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Bill H 207 (2011-2012)Summary date: May 5 2011 - View Summary
House committee substitute makes the following changes to 1st edition. Removes previous amendments to GS 158-7.1(c) which (1) provided that specific economic development projects authorized by Winston-Salem under GS 158-7.1 are not subject to Article 8 of GS Chapter 143 (public contract requirements) if city funds constitute no more than 50% of the total costs of the project for which funds are appropriated and (2) specified that federal funds loaned to private developers in connection with a project are not city funds.
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Bill H 207 (2011-2012)Summary date: Mar 2 2011 - View Summary
Amends GS 158-7.1(c) to provide that specific economic development projects authorized by Winston-Salem under GS 158-7.1 are not subject to Article 8 of GS Chapter 143 (public contract requirements) if city funds constitute no more than 50% of the total costs of the project for which funds are appropriated. Specifies that federal funds loaned to private developers in connection with a project are not city funds. Clarifies GS 158-7.1(h) to include non-restrictive language on event examples that require Winston-Salem to recapture sums after a breach. Applies to economic development activities undertaken on or after the date the act becomes law.