Bill Summary

by Overdorf  CS Sponsors: Housing, Agriculture & Tourism Subcommittee, Commerce Committee

State Economic Development Contracts: Provides short title; defines; requires employer to sign agreement with Department of Commerce before becoming eligible for economic development incentive; specifies provisions of agreement; provides applicability; authorizes persons & entities to report suspected violation to department within specified timeframe; requires department to determine whether violation has occurred; requires department to deliver written notice to Attorney General; requires Attorney General to request certain information from employer alleged to be in violation; requires Attorney General to initiate proceedings to recover funds awarded to employer if employer is found to have violated agreement; provides that department's findings are final; requires department to execute separate written agreement with recipient of economic development incentive before department awards incentive; specifies contents of separate agreement; provides effective periods of separate agreement. Effective Date: July 1, 2026

   H Housing, Agriculture & Tourism Subcommittee
   H Transportation & Economic Development Budget Subcommittee
   H Commerce Committee