Bill Summary for H 207 (2011-2012)

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Summary date: 

Mar 2 2011

Bill Information:

View NCGA Bill Details2011-2012 Session
House Bill 207 (Local) Filed Wednesday, March 2, 2011
TO AUTHORIZE CERTAIN CHANGES TO LOCAL DEVELOPMENT FOR THE CITY OF WINSTON-SALEM.
Intro. by McGee

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Bill 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.