HB 1766 - DIGEST

     Provides that a private business that receives state 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 advisory committee finds that this requirement is inconsistent with other economic development goals established for the program providing the assistance.  The government agency providing the assistance shall establish goals for wage and benefit levels and job creation or retention that are to be met by the business receiving the assistance.  The department shall provide advice and consultation for establishing these goals, with the assistance of the committee.

     Provides that a business that fails to meet the goals established pursuant to this act must repay the assistance to the government agency.

     Provides that, beginning with the fiscal year ending June 30, 1998, and each fiscal year thereafter, the director shall analyze the effect of all state assistance to private business on the aggregate number of jobs created or retained and wages and benefits paid in those new jobs.  Following consultation with the business assistance advisory committee, the director shall report the results of the analysis to the appropriate committees of the legislature.