5289.E AMH REAR PITT 93

ESB 5289 - H AMD TO H COMM AMD (5289.E AMH....H2407.1)WITHDRAWN 4/11/01

By Representative Reardon

     On Page 2, after line 27 of the amendment, insert the following:

     "(5)(a) By February 1st of each year, rural counties shall submit to the department of community, trade, and economic development a report on the use of the moneys collected under this section.  The report shall include, but not be limited to:

(i) Information on the type of projects funded;

(ii) Information on the amount of public and private sector funding committed to the projects;

(iii) Information on the number of private sector jobs created or retained as a result of financing, in whole or in part, the public facilities;

(iv) Information on the expected state and local tax revenue generated by financing, in whole or in part, the public facilities; and

(v) Other information the department of community, trade, and economic development deems necessary to determine the effectiveness of the program in private sector job creation or retention.

(b) The department of community, trade, and economic development shall publish a compilation and summary of the results of the reports required under subparagraph (a) of this subsection.  The report shall be forwarded to the appropriate committees of the legislature by March 1st of each year."

EFFECT:  Requires counties that participate in the 0.08 percent sales/use tax program for public facilities to submit an annual report on the use of the moneys to DCTED.   DCTED is required to compile the individual reports and submit its annual report to the appropriate legislative committees.