GENERAL ASSEMBLY OF NORTH CAROLINA
SENATE BILL 223
Rules and Operations of the Senate Committee Substitute Adopted 3/23/17
House Committee Substitute Favorable 6/6/17
House Committee Substitute #2 Favorable 6/27/17
House Committee Substitute #3 Favorable 6/29/17
Short Title: Exclude Tiers 1 & 2 From JDIG Cap.
March 9, 2017
A BILL TO BE ENTITLED
AN ACT to exclude from the maximum liability cap for grants awarded under jdig projects located wholly within a development tier one or two area or a combination thereof.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 143B‑437.52(c), as amended by Section 15.15A(b) of S.L. 2017‑57, reads as rewritten:
"(c) Award Limitations. – The following limitations apply to grants awarded under this Part:
(1) Maximum liability. – The
maximum amount of total annual liability for grants awarded in any single
calendar year under this Part, including amounts transferred to the Utility
Account pursuant to G.S. 143B‑437.61, is twenty million dollars
($20,000,000) for a year in which no grants are awarded for a high‑yield
project and is thirty‑five million dollars ($35,000,000) for a year in
which a grant is awarded for a high‑yield project. No agreement may be
entered into that, when considered together with other existing agreements
governing grants awarded during a single calendar year, could cause the State's
potential total annual liability for grants awarded in a single calendar year
to exceed the applicable amount. The Department shall make every effort to
ensure that the average percentage of withholdings of eligible positions for
grants awarded under this Part does not exceed the average of the range
provided in G.S. 143B‑437.56(a). The limitation in this subdivision
does not apply to
transformative projects.either (i) a transformative
project or (ii) a project located wholly within a development tier one area, a
development tier two area, or a combination thereof.
SECTION 2. This act is effective when it becomes law.