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3.0. HRSR 02-05-2001
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3.0. HRSR 02-05-2001
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City Government
type
HRSR
date
2/5/2001
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o Hold a public hearing. If the amount of the business subsidy exceeds$100,000,the Grantor must hold a public hearing. <br /> The Statutes contains specific requirements for publishing the notice of hearing. If the recipient of a business subsidy will <br /> receive assistance from more than one local grantor, then a single grantor may hold the public hearing. <br /> •Are there ongoing responsibilities? <br /> � g <br /> The Statutes establishes a set of subsidy reporting procedures. The recipient of the assistance is required to provide information <br /> to the grantor for two years after the benefits date or until the goals are met,whichever is later. The Statute requires reporting <br /> for certain types of assistance that are otherwise excluded from the definition of business subsidy. The information shall be <br /> reported on forms developed by DTED. The Statutes create penalties for failure to provide the appropriate reports. <br /> The Statutes create additional reporting requirements for the Grantor. All local government agencies of a local government with <br /> a population of more than 2,500,regardless of whether or not they have awarded any business subsidies, must file a report <br /> by April 1 of each year with the Commissioner of Trade and Economic Development. Local government agencies of a local <br /> government with a population of 2,500 or less are exempt from filing this report if they have not awarded a business subsidy <br /> in the past five years. <br /> • <br />
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