Section 12-A:2-e New Hampshire Economic Development Fund. - New Hampshire Statutes

   I. There is hereby established the New Hampshire economic development fund which shall be administered by the commissioner of the department of resources and economic development. Said fund shall be for the purpose of providing funds for grants, loans and other economic development initiatives which shall be generally considered to be beneficial to the state's overall economy as provided for in paragraph II.
   II. Said fund shall be distributed or expended by the commissioner with the advice and prior approval of the committee established in RSA 12-A:2-f and the approval of the governor and council for any of the following purposes:
      (a) Business financing and expansion initiatives.
      (b) Job retention and creation.
      (c) International trade.
      (d) Research and development activities.
      (e) Other projects or programs recognized as being beneficial to business activity in New Hampshire.
   III. To maximize the economic impact of expenditures from this fund, and to leverage additional funding from other sources, the commissioner may contract with such organizations as, but not limited to, the following:
      (a) New Hampshire Business Development Corporation.
      (b) Small Business Investment Corporation.
      (c) Innovation Research Center.
      (d) Small Business Development Center.
   IV. All moneys returned to the department as a result of contracts between the commissioner and any other party as authorized shall be redeposited into the New Hampshire economic development fund. In addition, the department may accept gifts, grants, donations or other moneys for the purposes of this section. Said moneys shall be deposited into the New Hampshire economic development fund.

Source. 1991, 4:21, eff. March 28, 1991. 2007, 251:6, eff. Aug. 27, 2007.