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2018 SESSION

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HB 1148 Economic growth-sharing; review of agreements.

Introduced by: R. Steven Landes | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Reporting on economic growth-sharing agreements. Provides that all economic growth-sharing agreements between localities shall require, at least annually, a report from each locality that is a recipient of funds pursuant to the agreement to each of the other governing bodies of the participating localities that includes (i) the amount of money transferred among the localities pursuant to the agreement and (ii) the uses of such funds by the localities. The bill also provides that the parties to any growth-sharing agreement that has been in effect for at least 10 years and that has annual payments that exceed $5 million shall also convene an annual meeting to discuss anticipated future plans for economic growth in the localities.

SUMMARY AS PASSED HOUSE:

Reporting on economic growth-sharing agreements. Provides that all economic growth-sharing agreements between localities shall require, at least annually, a report from each locality that is a recipient of funds pursuant to the agreement to each of the other governing bodies of the participating localities that includes (i) the amount of money transferred among the localities pursuant to the agreement and (ii) the uses of such funds by the localities. The bill also provides that the parties to any growth-sharing agreement that has been in effect for at least 10 years and that has annual payments that exceed $5 million shall convene an annual meeting to discuss anticipated future plans for economic growth in the localities.

SUMMARY AS INTRODUCED:

Review of economic growth-sharing agreements. Provides that all economic growth-sharing agreements between localities that exceed five years in duration shall contain a provision that allows any party to the agreement to call for a review of the agreement no more often than once every five years to determine whether the agreement continues to be in the best interest of the reviewing locality. The agreement shall contain a provision allowing such locality to end the agreement if a majority of the members of the governing body of the reviewing locality affirmatively vote to end the agreement. The bill also provides that any such agreement that has been if effect for at least 10 years as of July 1, 2018, shall be subject to renegotiation if requested by one of the parties to the agreement. The parties to the agreement shall negotiate in good faith in an attempt to reach a new agreement.