Bill Text: NC S223 | 2017-2018 | Regular Session | Amended

North Carolina Senate Bill 223 (Prior Session Legislation)

Bill Title: Exclude Tiers 1 & 2 From JDIG Cap

Spectrum: Slight Partisan Bill (Republican 2-1)

Status: (Engrossed - Dead) 2017-08-03 - Re-ref Com On Rules and Operations of the Senate [S223 Detail]

Download: North_Carolina-2017-S223-Amended.html

GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2017

S 5

SENATE BILL 223

Rules and Operations of the Senate Committee Substitute Adopted 3/23/17

House Committee Substitute Favorable 6/6/17

House Committee Substitute #2 Favorable 6/27/17

House Committee Substitute #3 Favorable 6/29/17

Short Title: Exclude Tiers 1 & 2 From JDIG Cap.		(Public)
Sponsors:
Referred to:

March 9, 2017

A BILL TO BE ENTITLED

AN ACT to exclude from the maximum liability cap for grants awarded under jdig projects located wholly within a development tier one or two area or a combination thereof.

The General Assembly of North Carolina enacts:

SECTION 1. G.S. 143B‑437.52(c), as amended by Section 15.15A(b) of S.L. 2017‑57, reads as rewritten:

"(c) Award Limitations. � The following limitations apply to grants awarded under this Part:

(1) Maximum liability. � The maximum amount of total annual liability for grants awarded in any single calendar year under this Part, including amounts transferred to the Utility Account pursuant to G.S. 143B‑437.61, is twenty million dollars ($20,000,000) for a year in which no grants are awarded for a high‑yield project and is thirty‑five million dollars ($35,000,000) for a year in which a grant is awarded for a high‑yield project. No agreement may be entered into that, when considered together with other existing agreements governing grants awarded during a single calendar year, could cause the State's potential total annual liability for grants awarded in a single calendar year to exceed the applicable amount. The Department shall make every effort to ensure that the average percentage of withholdings of eligible positions for grants awarded under this Part does not exceed the average of the range provided in G.S. 143B‑437.56(a). The limitation in this subdivision does not apply to ~~transformative projects.~~either (i) a transformative project or (ii) a project located wholly within a development tier one area, a development tier two area, or a combination thereof.

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SECTION 2. This act is effective when it becomes law.