Title: An act relating to the community economic revitalization board's funding of public facility construction projects.

Brief Description: Authorizing increased public facility construction funding by the community economic revitalization board.

Sponsors: Senator Eide.

Brief History:

Committee Activity: International Trade & Economic Development: 1/18/06.

SENATE COMMITTEE ON INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT

Staff: Jack Brummel (786-7428)

Background: The Community Economic Revitalization Board (CERB) was created in 1982 to provide funding for publicly owned economic development infrastructure. Through CERB, direct loans and grants are available to counties, cities, and special purpose districts for feasibility studies and for public improvements such as the acquisition, construction, or repair of water and sewer systems, bridges, railroad spurs, telecommunication systems, roads, structures, and port facilities.

CERB funds are generally only made available if a specific private development or expansion is ready to occur and will occur only if the public improvements are made -- an exception is made for projects in rural areas. These rural projects that do not have imminent private activity are currently limited to one million dollars in CERB funding.

Summary of Bill: The limitation on CERB funding for rural projects without imminent private activity is increased to one million five hundred thousand dollars.

Appropriation: None.

Fiscal Note: Not requested.

Committee/Commission/Task Force Created: No.

Effective Date: Ninety days after adjournment of session in which bill is passed.