RI H7385

Creates an interstate compact that becomes active once two or more states enact it, prohibiting member states and their political subdivisions from offering subsidies to lure specific companies or industries to relocate from one party state to another or to open new facilities

Defines "subsidy" broadly to include direct grants, tax considerations, favorable bonding status, special district status, and any other benefit that reduces government costs for a business compared to similarly situated ventures

Designates each state's governor or designee as the compact administrator, responsible for maintaining lists of party states and sharing information necessary to administer the agreement

Grants enforcement authority to state attorneys general, with taxpaying residents of any member state having standing to compel enforcement through the courts

Takes effect upon passage and includes severability provisions ensuring the compact remains in force among remaining states if declared invalid in any particular state