§ 143B-437.55. Applications; fees; reports; study. - North Carolina Statutes

§ 143B‑437.55. Applications; fees; reports; study.

(a)        Application. – Abusiness shall apply, under oath, to the Committee for a grant on a formprescribed by the Committee that includes at least all of the following:

(1)        The name of thebusiness, the proposed location of the project, and the type of activity inwhich the business will engage at the project site or sites.

(2)        The names andaddresses of the principals or management of the business, the nature of thebusiness, and the form of business organization under which it is operated.

(3)        The financialstatements of the business prepared by a certified public accountant and anyother financial information the Committee considers necessary.

(4)        The number ofeligible positions proposed to be created for the project and the salaries forthese positions.

(5)        An estimate of thetotal withholdings.

(6)        Certification thatthe business will provide health insurance to full‑time employees of theproject as required by G.S. 143B‑437.53(c).

(7)        Information concerningother locations, including locations in other states and countries, beingconsidered for the project and the nature of any benefits that would accrue tothe business if the project were to be located in one of those locations.

(8)        Information concerningany other State or local government incentives for which the business isapplying or that it has an expectation of receiving.

(9)        Any otherinformation necessary for the Committee to evaluate the application.

A business may apply, in oneconsolidated application in a form and manner determined by the Committee, fora grant that may include performance by related members of the business who mayqualify under this Part.

The Committee will consider anapplication by a business for a grant that includes performance of its relatedmembers only if the related members for whom the application is submittedassign to the business any claim of right the related members may have underthis Part to apply for grants individually during the term of the agreement andagree to cooperate with the business in providing to the Committee all theinformation required for the initial application and the agreement, and anyother information the Committee may require for the purposes of this Part. Theapplicant business is responsible for providing to the Committee all theinformation required under this Part.

If a business applies for agrant that includes performance by its related members, the related membersincluded in the application may be permitted to meet the qualifications for agrant collectively by participating in a project that meets the requirements ofthis Part. The amount of a grant may be calculated under the terms of this Partas if the related members were all collectively one business entity. Anyconditions for a grant, other than the number of eligible positions created,apply to each related member who is listed in the application as participatingin the project. The grant awarded shall be paid to the approved granteebusiness only. A grant received under this Part by a business may beapportioned to the related members in a manner determined by the business. Inorder for an agreement to be executed, each related member included in theapplication must sign the agreement and agree to abide by its terms.

(b)        Application Fee. – Whenfiling an application under this section, the business must pay the Committee afee of five thousand dollars ($5,000). The fee is due at the time theapplication is filed. The Secretary of Commerce, the Secretary of Revenue, andthe Director of the Office of State Budget and Management shall determine theallocation of the fee imposed by this section among their agencies. Theproceeds of the fee are receipts of the agency to which they are credited.

(c)        Annual Reports. – TheCommittee shall publish a report on the Job Development Investment GrantProgram on or before April 30 of each year. The report shall include thefollowing:

(1)        A listing of eachgrant awarded during the preceding calendar year, including the name of thebusiness, the cost/benefit analysis conducted by the Committee during theapplication process, a description of the project, the term of the grant, thepercentage of withholdings used to determine the amount of the grant, theannual maximum State liability under the grant, and the maximum total lifetimeState liability under the grant.

(2)        An update on thestatus of projects under grants awarded before the preceding calendar year.

(3)        The number anddevelopment tier area of eligible positions to be created by projects withrespect to which grants have been awarded.

(3a)      A listing of theemployment level for all businesses receiving a grant and any changes in thoselevels from the level of the next preceding year.

(4)        The wage levels ofall eligible positions to be created by projects with respect to which grantshave been awarded, aggregated and listed in increments of ten thousand dollars($10,000) or other appropriate increments.

(5)        The amount of newincome tax revenue received from withholdings related to the projects for whichgrants have been awarded.

(6)        For the first annualreport after adoption of the criteria developed by the Committee, inconsultation with the Attorney General, to implement this Part, a copy of suchcriteria, and, for subsequent reports, identification of any changes in thosecriteria from the previous calendar year.

(7)        The number of awardsmade to new businesses and the number of awards made to existing, expandingbusinesses in the preceding calendar year.

(8)        The environmentalimpact of businesses that have received grants under the program.

(9)        The geographicdistribution of grants, by number and amount, awarded under the program.

(10)      Repealed by SessionLaws 2009‑394, s. 2, effective July 31, 2009.

(11)      A listing of allbusinesses making an application under this Part and an explanation of whethereach business ultimately located the project in this State regardless ofwhether the business was awarded a grant for the project under this Part.

(12)      Repealed by SessionLaws 2006‑168, s. 1.4, effective July 27, 2006.

(13)      The total amounttransferred to the Utility Account of the Industrial Development Fund underthis Part during the preceding year.

(d)        Quarterly Reports.– The Committee shall publish a report on the Job Development Investment GrantProgram within two months of the end of each quarter. This report shall includea listing of each grant awarded during the preceding quarter, including thename of the business, the cost/benefit analysis conducted by the Committeeduring the application process, a description of the project, and the amount ofthe grant expected to be made under the agreement during the current fiscalyear.

(e)        Study. – TheCommittee shall conduct a study to determine the minimum funding level requiredto implement the Job Development Investment Grant Program successfully. TheCommittee shall report the results of this study to the House ofRepresentatives Finance Committee, the Senate Finance Committee, the House ofRepresentatives Appropriations Subcommittee on Natural and Economic Resources,the Senate Appropriations Committee on Natural and Economic Resources, and theFiscal Research Division no later than March 1 of each year.  (2002‑172, s. 2.1(a);2003‑416, s. 2; 2005‑429, s. 2.1; 2006‑168, s. 1.4; 2006‑252,s. 2.8; 2006‑264, s. 69(c); 2009‑394, s. 2.)