A BILL TO BE ENTITLED
AN ACT to modify the eligibility requirements for the industrial development fund.
The General Assembly of North Carolina enacts:
SECTION 1.  G.S. 143B‑437.01 reads as rewritten:
"§ 143B‑437.01.  Industrial Development Fund.
(a)	Creation and Purpose of Fund. – There is created in the Department of Commerce the Industrial Development Fund to provide funds to assist the local government units of the most economically distressed counties in the State in creating jobs in certain industries. The Department of Commerce shall adopt rules providing for the administration of the program. Those rules shall include the following provisions, which shall apply to each grant from the fund:
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(2)	The funds shall be used by the city and county governments for projects that will directly result in the creation of new jobs. The funds shall be expended at a maximum rate of fifteen thousand dollars ($15,000) per new job created in a tier one county, a maximum rate of ten thousand dollars ($10,000) per new job created in a tier two county, and at a maximum rate of seven hundred fifty thousand dollars ($750,000) per project.
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(6)	The funds shall not be used for any nonmanufacturing project that does not meet the wage standard set out in G.S. 105‑129.83(c).
(a1)	Definitions. – The following definitions apply in this section:
	 
(2)	Repealed by Session Laws 2006‑252, s. 2.4, effective January 1, 2007.
	 
(3)	Repealed by Session Laws 2006‑252, s. 2.4, effective January 1, 2007.
(4)	Economically distressed county. – A county that is defined as a tier one or tier two county under G.S. 143B‑437.08 after the adjustments of that section are applied.
(5)	Eligible industry. – Defined in G.S. 143B‑437.53.
	
(7)	Major economic dislocation. – The actual or imminent loss of 500 or more manufacturing jobs in the county or of a number of manufacturing jobs equal to at least ten percent (10%) of the existing manufacturing workforce in the county.
	
(9)	Reserved.
		
(b)	Repealed by Session Laws 1996, Second Extra Session, c. 13, s. 3.5.
(b1)	Utility Account. – There is created within the Industrial Development Fund a special account to be known as the Utility Account to provide funds to assist the local government units of the counties that are defined as tier one or tier two counties under G.S. 143B‑437.08 after the adjustments of that section are applied in creating jobs in eligible industries. The Department of Commerce shall adopt rules providing for the administration of the program. Except as otherwise provided in this subsection, those rules shall be consistent with the rules adopted with respect to the Industrial Development Fund. The rules shall provide that the funds in the Utility Account may be used only for construction of or improvements to new or existing water, sewer, gas, telecommunications, high‑speed broadband, electrical utility distribution lines or equipment, or transportation infrastructure for existing or new or proposed industrial buildings to be used for eligible industrial operations. To be eligible for funding, the water, sewer, gas, telecommunications, high‑speed broadband, electrical utility lines or facilities, or transportation infrastructure shall be located on the site of the building or, if not located on the site, shall be directly related to the operation of the specific industrial activity. There shall be no maximum funding amount per new job to be created or per project.
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SECTION 2.  This act becomes effective July 1, 2009.