HB1019 Summary

• Reappropriates $225,000,000 in bond proceeds to the Economic Development Commission for economic development projects authorized under Constitutional Amendment 82, effective July 1, 2012.

• Reappropriates $1,000,000 in cash funds for compressed natural gas demonstration station grants including land acquisition, construction, and equipment purchases.

• Reappropriates approximately $277 million in general improvement funds from multiple 2011 acts for various economic development purposes including public works, job training, aircraft/aerospace industry expansion, port and waterway projects, and technology-based development.

• Reappropriates federal funds totaling approximately $1,000,000 for railroad reclamation grants covering construction, operating expenses, and equipment.

• Reappropriates funds from special accounts including the Quick Action Closing Fund ($50 million), Minority Loan Mobilization Fund ($296,573), and Economic Development Incentive Fund ($69.6 million) for business attraction and workforce development initiatives.