HB73 Summary

• Creates the Randolph County Industrial Development Council with members appointed by county commissioners (districts 1-3 and 4-5), incorporated municipalities, and state legislative delegation, with staggered initial terms of one to four years.

• Council members serve without compensation but may be reimbursed for actual and necessary expenses and are immune from personal liability; members cannot serve in a paid capacity or have contracts with the council.

• Council has authority to negotiate industrial and economic development matters, formulate promotion plans, and possesses powers of local industrial development authorities including tax abatement, bond issuance, and property acquisition and disposal.

• Council headquarters located in Randolph County may be used for legislative offices utilizing council staff; council may be funded by appropriations from city governing bodies, county commission, or the Legislature.

• All funds previously distributed to the prior Randolph County Industrial Development Council (established under Act 2001-425) shall be used to pay any indebtedness of the old council, then transferred to the new council established by this act.