- Extends the rural jump-start program for an additional 5 years;
- Adds a legislative declaration stating that the purpose of the 5-year extension is to create or retain jobs in order to help address the still significant contraction of local economies in certain areas of the state;
- Changes the existing competition clause to specify that a new business applying for rural jump-start program benefits cannot compete with an existing business in the rural jump-start zone in which the business will be located or in any distressed county that is contiguous to the rural jump-start zone;
- Adds economic development organizations as authorized entities to apply to:
- Form a rural jump-start zone; or
- To allow a new business to participate in the rural jump-start program; and
- Amends the reporting requirements to ensure that any future evaluation of the rural jump-start program can rely on clear, relevant, and ascertainable metrics and data provided by the economic development commission.
(Note: This summary applies to this bill as enacted.)