Bill Summary for H 1017 (2011-2012)
|View NCGA Bill Details||2011-2012 Session|
TO MODERNIZE THE REQUIREMENTS OF THE COMPREHENSIVE STRATEGIC ECONOMIC DEVELOPMENT PLAN AND TO SIMPLIFY AND STREAMLINE OTHER REPORTING REQUIREMENTS FOR THE DEPARTMENT OF COMMERCE.Intro. by Dockham, McGee.
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Identical to S 808, filed 5/17/12.
Current law requires that the first step in developing the Comprehensive Strategic Economic Plan (GS 143B-434.01) is to develop an environmental scan based on information that is periodically updated. Amends GS 143B-434.01(e) to clarify that the updated information may be provided in whatever manner is most efficient.
Deletes the requirement for a needs assessment.
Replaces the annual report with an annual evaluation. Charges the Economic Development Board (Board) with the responsibility for conducting an annual evaluation of the state's economic performance based on specified statistics. States that the statistics used for evaluation should be made available to policymakers in whatever manner is most efficient. Adds the Joint Legislative Economic Development and Global Engagement Oversight Committee (Global Oversight Committee) to the entities to which the Board must make all data, plans, and reports available. Makes additional clarifying and conforming changes.
Amends GS 143B-435.1 to require that the Department of Commerce (Department) report on all clawbacks triggered under programs that the Department administers to the Joint Legislative Commission on Governmental Operations (Governmental Operations) and the Fiscal Research Division of the General Assembly, in addition to the Revenue Laws Study Committee (Revenue Laws), by April 1 and October 1 of each year.
Repeals GS 143B-437.01(c) to conform to the amended reporting requirements as provided in GS 143B-435.1.
Amends GS 143B-437.07, directing the Department to report on the information required by subsection (a) on or before October 1 (was, March 1). Additionally requires that the report include information for each business or joint private venture to which the state has granted in whole or in part economic development incentives in the previous fiscal year (was, previous five calendar years).
In addition to an online posting of a summary report, directs the Department to also submit a written report by October 1 of each year to the Fiscal Research Division, Governmental Operations, Revenue Laws, and Global Oversight Committee. Clarifies that an economic development incentive includes any grant from the specified programs.
Amends GS 143B-437.08 to add subsection (k) requiring the Secretary of Commerce to submit a written report on the tier rankings required by subsection (c) of GS 143B-437.08 to Governmental Operations and the Fiscal Research Division by November 30 annually.
Repeals GS 143B-437.55(d) regarding reporting requirements for the Economic Investment Committee.