HB 1067 Summary

• Increases grant funding percentages for rural infrastructure projects from 30% to 50% of total project costs, and from 40% to 60% for catalyst sites.

• Authorizes grants up to $300,000 for infrastructure feasibility studies, design, and planning activities in rural areas of critical economic concern.

• Allows combined feasibility study and infrastructure grants to reach 75% of project costs when the state or state agency purchases at least 20,000 acres of land within 15 square miles of a rural area of critical economic concern.

• Waives local matching fund requirements for projects in rural areas of critical economic concern when the state purchases specified acreage.

• Requires 7.5% of the purchase price (minimum) from state land purchases of 20,000+ acres in rural areas of critical economic concern to be appropriated to the Rural Infrastructure Fund over 5 years.