Bill > H3386

This bill aims to strengthen the Economic Development Incentive Program (EDIP) by ensuring that both permanent and construction jobs created or retained by projects receiving incentives are prioritized for residents. It clarifies that proposals for these projects must demonstrate a reasonable chance of increasing or retaining employment opportunities for residents in both permanent and construction roles. The bill also introduces new provisions regarding project certification, including a minimum certification period of five years and a maximum of twenty years, with specific conditions for revocation by the Economic Assistance Coordinating Council (EACC). Furthermore, it mandates that recipients of tax relief and their contractors must adhere to labor affirmation requirements, including providing workers' compensation and complying with wage and hour laws, with penalties for violations, such as debarment from public works projects and potential revocation of EDIP and TIF (Tax Increment Financing) credits.