S0679: Coordinating Council for Economic Development

Legislative Summary

Amend Section 13-1-1710 Of The 1976 Code, Relating To The Creation And Membership Of The Coordinating Council For Economic Development, To Provide For The Appointment Of Four Legislative Members; And To Amend Section 13-1-1720 Of The 1976 Code, Relating To The Purpose And Duties Of The Coordinating Council For Economic Development, To Prohibit The Coordinating Council From Granting Extensions, Modifications, Or Waivers And From Otherwise Forgiving Conditions Under Which Companies Were Awarded Incentives Or Credits; To Require The Coordinating Council To Make Recommendations To The State Fiscal Accountability Authority, And To Vest The State Fiscal Accountability Authority With The Responsibility For Making Final Determinations For Incentive Or Credit Extensions, Modifications, Or Waivers Or For Otherwise Forgiving Conditions For Receiving A Credit Or Incentive.