2007 Session

Budget Amendments - HB1650 (Member Request)

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Chief Patron: Dance
Enterprise Zone Grants

Item 105 #1h

Item 105 #1h

First Year - FY2007 Second Year - FY2008
Commerce And Trade
Housing and Community Development, Department of FY2007 $0 FY2008 $2,000,000 GF

Page 106, line 30, strike "$15,678,467" and insert "$17,678,467".
Page 106, line 38, strike "$15,400,000" and insert "$17,400,000".

(This amendment funds the expected increase in real property grant applications after adjusting for the expected change to the real property grant program. An additional $2.0 million is needed to avoid proration of benefits for eligible recipients in FY 2008 even after increasing the dollar threshold for receiving the maximum grant of $250,000 to $5,000,000 in real property improvements. In 2006, applications exceeded eligible benefits by $8.0 million. Adjustments to the program will reduce the need by $4.0 million and the Governor proposed an increase of $2.0 million in House Bill 1650 as introduced.)