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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 /> <br />Are there ongoing responsibilities? <br /> <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 /> <br />The Statutes create additional reporting requirements for the Grantor. All local govermnent 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 /> <br />