§ 132-1.11. Economic development incentives. - North Carolina Statutes

§ 132‑1.11.  Economicdevelopment incentives.

(a)        Assumptions andMethodologies. – Subject to the provisions of this Chapter regardingconfidential information and the withholding of public records relating to theproposed expansion or location of specific business or industrial projects whenthe release of those records would frustrate the purpose for which they werecreated, whenever a public agency or its subdivision performs a cost‑benefitanalysis or similar assessment with respect to economic development incentivesoffered to a specific business or industrial project, the agency or itssubdivision must describe in detail the assumptions and methodologies used incompleting the analysis or assessment. This description is a public record andis subject to all provisions of this Chapter and other law regarding publicrecords.

(b)        Disclosure ofPublic Records Requirements. – Whenever an agency or its subdivision firstproposes, negotiates, or accepts an application for economic developmentincentives with respect to a specific industrial or business project, theagency or subdivision must disclose that any information obtained by the agencyor subdivision is subject to laws regarding disclosure of public records. Inaddition, the agency or subdivision must fully and accurately describe theinstances in which confidential information may be withheld from disclosure,the types of information that qualify as confidential information, and themethods for ensuring that confidential information is not disclosed. (2005‑429, s. 1.2.)