CS for SB 406, 2nd Engrossed - Economic Development Programs Evaluation

• Establishes Economic Development Programs Evaluation requiring the Office of Economic and Demographic Research and OPPAGA to analyze state economic development programs on a 3-year rotating schedule, with first reports due January 1, 2014, evaluating job creation, income, and GDP impact.

• Changes Department of Economic Opportunity annual report deadline from January 1 to November 1 and requires incorporation of multiple program reports including displaced homemakers, enterprise zones, black business loans, and rural economic development initiatives.

• Creates return on investment reporting requirements for economic development programs, mandating the Department of Economic Opportunity publish project information, performance metrics, and economic benefits on a public website within 48 hours of confidentiality periods expiring.

• Expands tax exemptions for natural gas used in fuel cells, revises definitions for housing and mixed-use projects in brownfield areas, expands aircraft repair exemptions, and provides tax-exempt sales on clothing, school supplies, and personal computers during August 2-4, 2013.

• Creates new spring training franchise facility certification program under section 288.11631 allowing state funding up to $20-50 million for stadium construction/renovation with specified local matching requirements, performance standards, and annual reporting obligations.