2003 House Bill 4300 ↩

Senate Roll Call 343: Passed

To allow a county to grant or loan funds derived from property taxes levied specifically for economic development purposes and approved by a vote of the people, to a township, village, or city, so that they may provide subsidies to a private person, corporation or other business association for the purpose of encouraging and assisting businesses to locate or expand in the county. Current law only allows the use of federal, state, or local grants for this purpose, not property tax revenues. The bill requires that grants or loans be awarded according to an official process, in a public county commission meeting, and requires recipients to file annual reports on the extent to which their activities have met the stated public purpose. See also Senate Bills 239 and 240, and House Bill 4324.