North Carolina § 143B-437 - 70. Legislative findings and purpose.

§ 143B-437. 70. Legislative findings and purpose.

The General Assembly finds that: It is the policy of the State of North Carolina to stimulate economic activity and to create new jobs for the citizens of the State by encouraging and promoting the retention and expansion of existing business and industry within the State and by recruiting and attracting new business and industry to the State. Both short-term and long-term economic trends at the State, national, and international levels have made the successful implementation of the State's economic development policy and programs both more critical and more challenging; and the decline in the State's traditional industries, and the resulting adverse impact upon the State and its citizens, have been exacerbated in recent years by adverse national and State economic trends that contribute to the reduction in the State's industrial base and that inhibit the State's ability to sustain or attract new and expanding businesses. The purpose of this Part is to stimulate economic activity and to create new jobs within the State. The enactment of this Part will maintain consistency and accountability in a key economic development program and will ensure that the program benefits the State and its citizens. Nothing in this Part shall be construed to constitute a guarantee or assumption by the State of any debt of any business or to authorize the taxing power or the full faith and credit of the State to be pledged. History (2004-88, s. 1(d).) Qualified Capital Intensive Corporation Ineligible for Certain Grants. - Session Laws 2009-54, s. 4, provides: "A corporation that is a qualified capital intensive corporation under G.S. 105-130.4(s1) is not eligible for a grant under the Job Development Investment Grant Program established under Part 2G of Article 10 of Chapter 143B of the General Statutes or the One North Carolina Fund established under Part 2H of Article 10 of Chapter 143B of the General Statutes with respect to the facility that satisfies the condition of G.S. 105-130.4(s1)(2)." Editor's Note. - Session Laws 2004-88, ss. 1(a) through 1(c), provide: "(a) There is appropriated from the General Fund to the One North Carolina Fund the sum of twenty million dollars ($20,000,000) for the 2003-2004 fiscal year. Funds that are unexpended and unencumbered as of the end of the fiscal year do not revert to the General Fund but remain available for these purposes. It is the intent of the General Assembly that there be a recurring annual appropriation to the One North Carolina Fund of ten million dollars ($10,000,000) beginning with the 2006-2007 fiscal year. "(b) Of the funds appropriated in this section to the One North Carolina Fund, the Department of Commerce may use up to three hundred thousand dollars ($300,000) to cover its expenses in administering the One North Carolina Fund and other economic development incentive grant programs during the 2004-2005 fiscal year. "(c) There is appropriated from the General Fund to the Community Colleges System Office the sum of four million one hundred thousand dollars ($4,100,000) for the 2003-2004 fiscal year for new and expanding industry training. Funds that are unexpended and unencumbered as of the end of the fiscal year do not revert to the General Fund but remain available for these purposes." Session Laws 2004-88, s. 1(g), made this Part effective June 30, 2004, and not applicable to commitments made under the One North Carolina Industrial Recruitment Competitive Fund prior to July 1, 2004. Session Laws 2012-142, s. 13.6(a), provides: "The General Assembly acknowledges the importance of ongoing economic growth and development in this State. To that end, it is the intent of the General Assembly to fund the commitments of the One North Carolina Fund, as evidenced by the General Assembly's past and recurring appropriations to the Fund and as set forth in this section, and to establish a funding structure that aligns with the funding structure that is and has been used with the Job Development Investment Grant Program. The General Assembly has continued this level of commitment while remaining fiscally responsible in addressing the other critical, high-priority needs of the State." Session Laws 2012-142, s. 1.2, provides: "This act shall be known as 'The Current Operations and Capital Improvements Appropriations Act of 2012.'" Session Laws 2012-142, s. 27.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2012-2013 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2012-2013 fiscal year." Session Laws 2012-142, s. 27.7, is a severability clause. Session Laws 2016-94, s. 15.2(d), provides: "Funds remaining as of June 30, 2016, in One North Carolina Fund Reserve established pursuant to G.S. 143C-9-8 are transferred to the Department of Commerce for the One North Carolina Fund established pursuant to Part 2H of Article 10 of Chapter 143B of the General Statutes." Session Laws 2016-94, s. 1.2, provides: "This act shall be known as the 'Current Operations and Capital Improvements Appropriations Act of 2016.'" Session Laws 2016-94, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2016-2017 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2016-2017 fiscal year." Session Laws 2016-94, s. 39.7, is a severability clause. Session Laws 2017-57, s. 15.15A(e), provides: "(e) Amounts committed in Governor's Letters issued pursuant to Part 2H of Article 10 of Chapter 143B of the General Statutes for transformative projects, as defined in G.S. 143B-437.51, do not count towards the limitation provided in G.S. 143B-437.71(b1). Amounts committed pursuant to this subsection may be up to five thousand dollars ($5,000) per job covered by a company performance agreement per year for each job created within a five-year period from the time the first job was created. Amounts paid for a single job may not exceed a term of five years. The authority to commit amounts pursuant to this subsection expires June 30, 2019." Session Laws 2018-5, s. 15.3(a), effective June 12, 2018, repealed Session Laws 2017-57, s. 15.15A(e). Session Laws 2017-57, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2017.'" Session Laws 2017-57, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2017-2019 fiscal biennium, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2017-2019 fiscal biennium." Session Laws 2017-57, s. 39.6, is a severability clause. Session Laws 2018-5, s. 1.1, provides: "This act shall be known as the 'Current Operations Appropriations Act of 2018.'" Session Laws 2018-5, s. 39.4, provides: "Except for statutory changes or other provisions that clearly indicate an intention to have effects beyond the 2018-2019 fiscal year, the textual provisions of this act apply only to funds appropriated for, and activities occurring during, the 2018-2019 fiscal year." Session Laws 2018-5, s. 39.7, is a severability clause.