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CSSB 154(L&C): "An Act relating to the economic development grant program; and providing for an effective date."

00 CS FOR SENATE BILL NO. 154(L&C)                                                                                         
01 "An Act relating to the economic development grant program; and providing for                                           
02 an effective date."                                                                                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 29.60 is amended by adding new sections to read:                                                    
05 ARTICLE 9.  ECONOMIC DEVELOPMENT GRANT PROGRAM.                                                                         
06  Sec. 29.60.670.  ECONOMIC DEVELOPMENT GRANT FUND.  The                                                                
07 economic development grant fund consisting of appropriations to the fund is                                             
08 established in the Department of Administration.  Except as otherwise provided in an                                    
09 appropriation act, money appropriated to the fund does not lapse but is retained in the                                 
10 fund.                                                                                                                   
11  Sec. 29.60.675.  ECONOMIC DEVELOPMENT GRANTS.  (a)  A municipality                                                    
12 or a regional development organization may apply for an economic development grant                                      
13 for a fiscal year by submitting an application to the Office of the Governor before                                     
14 October 1 of the preceding fiscal year.  The application shall be on a form prescribed                                  
01 by the office of management and budget after consulting with the Department of                                          
02 Commerce and Economic Development and the Department of Community and                                                   
03 Regional Affairs.  The grant money may only be used for construction of a capital                                       
04 project that will increase economic opportunity within the municipality or region that                                  
05 the organization represents.  The grant application must include the following                                          
06 information:                                                                                                            
07   (1)  the amount of money available to the municipality or the                                                        
08 organization from nonstate sources that the municipality or the organization proposes                                   
09 to use to match grant funds for the project;                                                                            
10   (2)  the amount of money available from private, nongovernmental                                                     
11 sources that has been committed to or as a result of investment in the project;                                         
12   (3)  an estimate of the number and duration of construction jobs within                                              
13 the municipality or region that will result from the project;                                                           
14   (4)  an estimate of the number of new permanent jobs within the                                                      
15 municipality or region that will result directly or indirectly from the project;                                        
16   (5)  an estimate of the amount of state taxes, municipal taxes, and other                                            
17 fees or payments to the state or applicant that will be generated as a result of the                                    
18 project during the 10 years following its completion; and                                                               
19   (6)  a description of the ownership of the completed project and how                                                 
20 the project will be operated and maintained after it is constructed.                                                    
21  (b)  All grant applications received for a fiscal year shall be evaluated by a                                        
22 committee composed of representatives of the office of management and budget, the                                       
23 Department of Commerce and Economic Development, the Department of Community                                            
24 and Regional Affairs, and other agencies.  Committee members shall be selected by                                       
25 the director of the office of management and budget and shall be chaired by the                                         
26 director or the director's designee.  The committee may request from a municipality                                     
27 or organization additional information needed to evaluate a proposed capital project.                                   
28 As part of the annual capital improvements program presented to the legislature under                                   
29 AS 37.07.060, the governor shall submit to the finance committees of each house of                                      
30 the legislature a prioritized list of projects for which the evaluation committee                                       
31 recommends funding based on the degree to which each project has the potential to                                       
01 improve the economy of the state and of the municipality that has applied for the grant                                 
02 or the region represented by the organization that has applied for the grant.                                           
03  (c)  The legislature may appropriate or allocate from the economic development                                        
04 fund or allocate in an appropriation to the fund all or a portion of the money requested                                
05 by a municipality or organization for a project identified in the prioritized list.                                     
06  Sec. 29.60.680.  GRANTS.  The Department of Administration, after consulting                                          
07 with the Department of Commerce and Economic Development and the Department                                             
08 of Community and Regional Affairs, shall by regulation establish requirements for                                       
09 economic development grants under AS 29.60.670 - 29.60.685 and shall administer the                                     
10 grants.  The regulations are subject to approval by the office of management and                                        
11 budget.  A grant may not be awarded by the department unless money for the project                                      
12 is appropriated or allocated under AS 29.60.675(c) and the municipality or organization                                 
13 meets or exceeds the amount of matching money identified in its grant application.                                      
14  Sec. 29.60.685.  DEFINITIONS.  In AS 29.60.670 - 29.60.680, "regional                                                 
15 development organization" and "organization" have the meanings given in                                                 
16 AS 44.33.026(e).                                                                                                        
17    * Sec. 2.  This Act takes effect July 1, 1993.