Declares that it is the state's policy to maximize the use of federal and private funds for economic development purposes and to devote state resources to leverage federal and private dollars to supplement state economic development efforts. In furtherance of this policy, it is the purpose of this act to authorize and fund a technical assistance and grant writing program within the department of community, trade, and economic development.

Requires the department to submit to the appropriate committees of the legislature an annual list of grant applications submitted, grant awards received, and the total amount of grant funds received during the year. The list shall be due by December 1st of each year.

Provides that the act shall be null and void if appropriations are not approved.