GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2015

S                                                                                                                                                     1

SENATE BILL 326

 

 

Short Title:        Increase JDIG Program Funding.

(Public)

Sponsors:

Senators Gunn, Meredith, Apodaca (Primary Sponsors);  Bingham, Bryant, Clark, Curtis, J. Davis, Ford, Hise, B. Jackson, Lee, McInnis, Newton, Pate, Rabin, Rabon, Randleman, Sanderson, Smith, Smith‑Ingram, Tillman, Tucker, and Van Duyn.

Referred to:

Commerce.

March 19, 2015

A BILL TO BE ENTITLED

AN ACT to provide increased funding to the job development investment grant program.

The General Assembly of North Carolina enacts:

SECTION 1.  Section 15.19(a1) of S.L. 2013‑360 reads as rewritten:

"SECTION 15.19.(a1)  Notwithstanding G.S. 143B‑437.52(c), for the 2013‑2015 fiscal biennium, the maximum total liability for grants awarded, including amounts transferred to the Utility Account pursuant to G.S. 143B‑437.61, is twenty‑two million five hundred thousand dollars ($22,500,000)as follows for the following time periods:

(1)        For the 2013‑2015 fiscal biennium, twenty‑seven million five hundred thousand dollars ($27,500,000).

(2)        For the period from July 1, 2015, to December 31, 2015, the maximum total liability for grants awarded, including amounts transferred to the Utility Account pursuant to G.S. 143B‑437.61, is seven million five hundred thousand dollars ($7,500,000).

No agreement may be entered into that, when considered together with other existing agreements governing grants awarded during an applicable time period provided in this subsection, could cause the State's potential total annual liability for grants awarded in that time period to exceed the designated maximum amount."

SECTION 2.  This section is effective when it becomes law.