A BILL
To provide the Northeast Region with additional tools to develop short-term and long-term economic strategies and to effectively close deals with large and small businesses looking to bring in new jobs.
Be it enacted by the Assembly of the Northeast Region convened.
SECTION 1. TITLE
This legislation may be cited as the ‘Quick-Action Closing Fund Act.’
SECTION 2. CREATION OF QUICK-ACTION CLOSING FUND
$20 billion will be accumulated from the Economic development fund expended by November-March Northeast Budget FY2013 to the Northeast Department of Commerce for the creation of this program:
(1.) The Northeast Department of Commerce will establish a non-partisan ten-member board to be assigned with the task of formulating long-term economic-development strategies as well as researching and contacting businesses looking to locate or relocate their facilities in the Northeast Region.
(2.) The board will have the ability to negotiate for workforce training, capital investments, and other projects to help collaborate with businesses and manufacturers interested in locating or relocating their facilities in the Northeast Region.
(3.) Grants and incentives that are provided by the fund may be used for onsite (equipment and facilities) and offsite (infrastructure) expenses if approved by the Bank of the Northeast.
Sponsor: Gov. Scott
Scotty, you have until 12:32 AM on January 2, 2013 (24 hours from now) to advocate for this bill or I will axe it with an axe.
