HB 2854 - DIGEST

     Requires that a private business that receives state or local government assistance for economic development or job growth purposes must create a net increase in jobs in this state within two years of receiving the assistance, unless the business advisory committee, based on its evaluation of objective information reviewed, determines that the net job standard should be waived.

     Declares that a business that fails to meet the goals of this act must repay the assistance to the government agency.

     Requires that, beginning with the 1997-1999 biennium and each biennium thereafter, the director shall analyze the effect of  all state and local government assistance to private business on the aggregate number of jobs created or retained and wages and benefits paid in those jobs.

     Requires that, by September 1, 1996, the business assistance advisory committee shall be appointed to advise the department in establishing goals for wage and benefit levels and job creation, to analyze the benefit of state and local government assistance to private business on the established goals, to monitor state economic policy impacts on the economy, and to review drafts of the reports required under this act.