SB432: Revises provisions governing economic development. (BDR 32-758)

Legislative Summary

AN ACT relating to economic development; revising provisions governing the disposition of certain taxes; requiring the establishment of a regional powers authority following the expiration of certain partial tax abatements approved in relation to a qualified project; establishing the powers and duties of a regional powers authority; creating the Account to Mitigate the Regional Impacts of Economic Development; imposing reporting requirements related to the use of certain money; creating the Account to Promote Statewide Economic Development; and providing other matters properly relating thereto.