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NC S493
Bill
AI Summary
- Modifies how development tier designations apply to Job Development Investment Grant (JDIG) projects spanning multiple locations in North Carolina
- Creates "Incipient Enhancement" allowing projects with locations in tier three and tier one/two areas to use the lowest tier designation for utility account disbursement calculations if at least 66% of eligible positions or project benefits are in the lowest tier area
- Establishes "Coincident Bonus" providing a 20% increase to annual grants for headquarters relocations that simultaneously relocate a manufacturing operation to a tier one or two area, with bonus amount excluded from award limitation calculations
- Requires manufacturing relocation positions to equal or exceed minimum job thresholds for the location and have withholdings equal to or greater than the bonus amount to qualify
- Effective upon enactment and applies to grants awarded after the effective date
Legislative Description
JDIG Multilocation Projects Modifications
Public
Last Action
Ref To Com On Rules and Operations of the Senate
7/1/2022
Committee Referrals
Rules and Operations of the Senate7/1/2022
Rules, Calendar, and Operations of the House7/1/2022
Commerce6/24/2021
Rules, Calendar, and Operations of the House4/29/2021
Rules and Operations of the Senate4/21/2021
Finance4/13/2021
Rules and Operations of the Senate4/5/2021
Full Bill Text
No bill text available