Bill
Bill > S3642
summary
Introduced
04/19/2021
04/19/2021
In Committee
04/19/2021
04/19/2021
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
This bill authorizes local governmental entities to enter into regional economic development partnerships for the purpose of engaging in joint regional economic planning and formulating an economic development or redevelopment strategy. Under the bill, regional economic development partnerships could include any combination of county governments, municipal governments, agencies or instrumentalities thereof, and public or private economic development organization. A regional economic development partnership may also include businesses, business organizations, educational institutions, nonprofit organizations, and other entities located within the region.
AI Summary
This bill authorizes local governmental entities, such as county and municipal governments, as well as public or private economic development organizations, to form regional economic development partnerships. These partnerships can engage in joint regional economic planning, formulate economic development or redevelopment strategies, and potentially access loans or grants to support their activities. The bill also allows counties and municipalities to enter into other agreements for economic development or redevelopment projects without forming a formal partnership, subject to approval by the Local Finance Board.
Committee Categories
Housing and Urban Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Community and Urban Affairs Committee (on 04/19/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
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