This bill mandates the Economic Development Department to compile and present an annual report detailing economic development projects funded with public support under the Local Economic Development Act. The report will include information such as the total public support provided, details on each project including the qualifying entity, capital investment, job creation commitments, actual jobs created, and the economic impact of the projects. Additionally, the report must be published on the department's website, ensuring that no confidential information about the qualifying entities is disclosed.

Furthermore, the bill requires the Economic Development Department and the Workforce Solutions Department to provide relevant information to the Legislative Finance Committee for evaluating economic development incentives. It also stipulates that the Industrial Training Board must report specific training data related to development training programs to the same committee. The bill includes provisions for confidentiality regarding proprietary information and establishes guidelines for how this information can be shared with the Legislative Finance Committee. The effective date for these provisions is set for July 1, 2025.

Statutes affected:
introduced version: 9-15-10, 9-26-14