63M-1-1901 - Military installation projects for economic development -- Funding -- Criteria -- Dispersal -- Report.
63M-1-1901. Military installation projects for economic development -- Funding --Criteria -- Dispersal -- Report.
(1) The Legislature recognizes that significant growth in the state's economy can beachieved by state and local support of the continuing expansion and development of federalmilitary installations throughout the state.
(2) The office, through its director, may receive and distribute legislative appropriationsand public and private grants and donations for military installation projects that:
(a) have a strong probability of increasing the growth and development of a militaryfacility within the state, thereby providing significant economic benefits to the state;
(b) will provide a significant number of new jobs within the state that should remainwithin the state for a period of several years; and
(c) involve a partnership between the military and private industry or local governmentor the military and private industry and local government.
(3) (a) The director may distribute money under this section to:
(i) a regional or statewide nonprofit economic development organization; or
(ii) a federal military partnership that has the mission of promoting the economic growthof a military installation.
(b) The director shall make a distribution under this section upon:
(i) receipt of an application on a form prescribed by the office that lists:
(A) the particulars of the proposed use of the money requested, such as neededequipment purchases and anticipated training costs;
(B) the estimated number of new jobs that will be created by the proposed project;
(C) pending contracts related to the project that are to be finalized from fundinganticipated under this section; and
(D) a projected date on which the applicant shall provide the director with a report on theimplementation and performance of the project, including the creation of new jobs; and
(ii) a determination by the director that the project satisfies the requirements listed inSubsection (2).
(c) (i) The office shall monitor the activities of a recipient of money under this section toensure that there is compliance with the terms and conditions imposed on the recipient under thispart.
(ii) The office shall submit an annual report to the Workforce Services and Communityand Economic Development Interim Committee and the Economic Development and RevenueAppropriations Subcommittee on the use and impact of the money distributed under this section,with the first report to occur not later than September 1, 2005.
Amended by Chapter 323, 2010 General Session