Bill > SB163

This bill appropriates two million dollars ($2,000,000) from the state's general fund to the economic development department for the fiscal year 2016. This funding is specifically for a cooperative marketing program designed to offer matching funds to local economic development organizations, which are entities focused on attracting businesses to their areas. The goal of this program is to boost business recruitment efforts within these regions. The economic development department will be required to report on the program's progress to the relevant interim legislative committee, and any money not spent or committed by the end of fiscal year 2016 will be returned to the general fund.