HB 1165 Summary

• Adds a new definition of "grant" as a business incentive payment obligation awarded by the state and funded directly by state revenues

• Requires business incentive agreements for grants to include a list of financial assistance from federal, state, and local government sources plus matching funds

• Expands state grantor recipient report forms to include recipient website URL and requires grant recipients to provide a table of expenditures made with grant funds

• Requires the Department of Commerce to post state grantor reports on its website including compilation summaries, grant expenditure reports, and a list of noncompliant grant recipients

• Maintains existing penalties for late reporting: $100 per day after a 60-day deadline following benefit date anniversary, with a $1,000 maximum penalty