1998 Session

Budget Amendments - HB30 (Conference Report)

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Enterprise Zone Study (language only)

Item 92 #16c

Item 92 #16c

Commerce And Trade
Housing and Community Development, Department of

Page 64, line 27, strike "F" and insert "F.1."
Page 64 after line 34, insert:  
"2.  The Department shall study the impact of the Enterprise Zone Program on stimulating new investments and job creation since the program's inception.  The Department shall report on the program's costs in terms of general fund appropriations and revenue loss to the state and participating local governments as well as the program's benefits as measured by investments and jobs created by qualified and nonparticipating businesses in the zones.  The study shall also address future costs of the program, specifically addressing tax credit benefits and increasing the number of zones.  The Department shall submit the study by November 4, 1998, to the Chairmen of the Senate Finance Committee and the House Finance Committee."

(This amendment directs the Department of Housing and Community Development to develop a cost/benefit study on the Enterprise Zone Program. In addition, the agency is to study future program costs and provide recommendations to address these costs. The study is to be submitted to the General Assembly by November 4, 1998.)