SB336 Enrolled is a bill that establishes the framework for creating research and development corridors as public corporations within the state, aimed at fostering economic development in sectors identified in the state's strategic economic development plan. Municipalities can create and dissolve these corridors through an authorizing resolution. The corridors have specific powers, including exemption from certain taxes and competitive bid laws, and can engage in various economic activities. The bill defines terms related to the corridors and specifies the categories of businesses that qualify for inclusion. It also outlines the process for incorporating a corridor, which requires an application by at least three natural persons who are electors of the authorizing subdivision, along with a proposed certificate of incorporation and other documentation.

The bill details the composition and powers of the board of directors for the corridor, emphasizing inclusivity and diversity. Directors are appointed by the authorizing subdivision and can serve unlimited successive terms. The corridor has the authority to manage property, charge fees, grant funds, and incur financial obligations for lawful purposes. It can also issue financial obligations without a principal amount limit for various purposes, and these obligations are considered legal investments for entities within the state. The bill does not indicate any specific insertions or deletions to current law. Financial obligations of the corridor are limited and do not create liability for the state or its subdivisions, and the corridor's financial operations are subject to annual audits. Public entities can support corridors financially without voter authorization, and the bill provides tax exemptions for corridors. The bill includes provisions for the dissolution of corridors and mandates annual reporting, with an anti-poaching clause to prevent the relocation of enterprises into a corridor without consent. The provisions of the bill are cumulative and include a severability clause, with the act becoming effective immediately upon passing.