A BILL TO BE ENTITLED
AN ACT to appropriate funds for the main street financial incentive fund for grants for micropolitan areas.
The General Assembly of North Carolina enacts:
SECTION 1.  There is appropriated from the General Fund to the Department of Commerce the sum of three million three hundred thousand dollars ($3,300,000) in fiscal year 2009‑2010 and the sum of three hundred thousand dollars ($300,000) in fiscal year 2010‑2011 for main street development grants to support regional development and job creation around economically distressed micropolitan communities in development tier two and three counties in order to better enable those communities to become economic engines spurring regional growth.  Of the funds provided to the Department of Commerce, the sum of three hundred thousand dollars ($300,000) for the 2009‑2010 fiscal year and the sum of three hundred thousand dollars ($300,000) for the 2010‑2011 fiscal year shall be used to hire and train three positions in the Department of Commerce to work directly with leaders in the communities to develop larger economic development plans that enable small- to medium‑sized cities to identify specific projects that will advance the communities' goals and promote regional growth.  The Department of Commerce, in conjunction with the Governor's Office, shall develop guidelines related to the administration of the appropriated funds and to the selection of projects to receive allocations from the appropriated funds.  The Department of Commerce shall publish the proposed guidelines on the Department's Web site and provide notice to persons who have requested notice of proposed guidelines.  The Department shall accept oral and written comments on the proposed guidelines during the 15 business days beginning on the first day that the Department has completed these notifications.  For purposes of this act, a "micropolitan community" is a municipality with a population of 50,000 or less.
SECTION 2.  This act becomes effective July 1, 2009.