§ 63M-1-1901. Military installation projects for economic development -- Funding -- Criteria -- Dispersal -- Report. (Effective 5/13/2014)

(1) The Legislature recognizes that significant growth in the state's economy can be achieved by state and local support of the continuing expansion and development of federal military installations throughout the state.

(2) The office, through its director, may receive and distribute legislative appropriations and public and private grants and donations for military installation projects that:

(a) have a strong probability of increasing the growth and development of a military facility within the state, thereby providing significant economic benefits to the state;

(b) will provide a significant number of new jobs within the state that should remain within the state for a period of several years; and

(c) involve a partnership between the military and private industry or local government or the military and private industry and local government.

(3)

(a) The director may distribute money under this section to:

(i) a regional or statewide nonprofit economic development organization; or

(ii) a federal military partnership that has the mission of promoting the economic growth of a military installation.

(b) The director shall make a distribution under this section upon:

(i) receipt of an application on a form prescribed by the office that lists:

(A) the particulars of the proposed use of the money requested, such as needed equipment purchases and anticipated training costs;

(B) the estimated number of new jobs that will be created by the proposed project;

(C) pending contracts related to the project that are to be finalized from funding anticipated under this section; and

(D) a projected date on which the applicant shall provide the director with a report on the implementation and performance of the project, including the creation of new jobs; and

(ii) a determination by the director that the project satisfies the requirements listed in Subsection (2).

(c)

(i) The office shall monitor the activities of a recipient of money under this section to ensure that there is compliance with the terms and conditions imposed on the recipient under this part.

(ii) The office shall include in the annual written report described in Section 63M-1-206, a report regarding the use and impact of the money distributed under this section.

Amended by Chapter 371, 2014 General Session