REPORT TITLE:
Corporate Disclosure


DESCRIPTION:
Requires department of taxation to report on all tax benefits
provided for development assistance programs.  Requires counties
to disclose real property tax reductions and abatements.
Requires collection and disclosure of information on all forms of
development assistance granted.  Requires agencies granting
development assistance to (1) compare projected wages with
existing wages, and (2) determine value of health care coverage
provided to full-time employees.  Requires recapture of
development assistance from recipients who fail to achieve job
creation and wage and benefit goals.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        3004
THE SENATE                              S.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
________________________________________________________________
________________________________________________________________


                   A  BILL  FOR  AN  ACT

RELATING TO CORPORATE DISCLOSURE.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  The legislature finds that despite an increase
 
 2 in spending for the purpose of economic development, in both on-
 
 3 budget and off-budget expenditures, the real wage levels of the
 
 4 State's average working families have suffered twenty years of
 
 5 decline and stagnation.
 
 6      The legislature also finds that when workers receive low
 
 7 wages, these jobs often impose hidden taxpayer costs upon our
 
 8 citizens, in the form of medical assistance, food stamps, earned
 
 9 income tax credits, and other forms of assistance provided to the
 
10 working poor and their families.
 
11      Therefore, in order to insure that the State's economic
 
12 development resources are achieving their desired effect of
 
13 raising living standards for working families, the legislature
 
14 finds that it is necessary to collect and analyze additional
 
15 information and to enact certain safeguards in its development
 
16 assistance.
 
17      SECTION 2.  The Hawaii Revised Statutes is amended by adding
 
18 a new chapter to be appropriately designated and to read as
 
19 follows:
 

 
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 1                             "CHAPTER
 
 2                       CORPORATE DISCLOSURE
 
 3         -1 Definitions.
 
 4      "Corporate parent" means any person or legal entity,
 
 5 organization, business, partnership, group or corporate entity
 
 6 recognized by law, or combination thereof, that possesses, owns
 
 7 or controls an interest greater than fifty per cent of the
 
 8 recipient corporation.
 
 9      "Date of assistance" means the date upon which a granting
 
10 body transmits the first dollar value of development assistance
 
11 to a recipient corporation.
 
12      "Development assistance" means any form of public
 
13 assistance, including both on-budget and off-budget assistance,
 
14 including tax expenditures, made for the purpose of stimulating
 
15 economic development of a given corporation, industry, geographic
 
16 jurisdiction, or other subset of the State's economy, including
 
17 industrial development bonds, training grants, loans, loan
 
18 guarantees, enterprise zones, empowerment zones, tax increment
 
19 financing, grants, fee waivers, land price subsidies,
 
20 infrastructure whose principal beneficiary is a single business
 
21 or defined group of businesses at the time it is built or
 
22 improved, matching funds, tax abatements, tax credits and tax
 
23 discounts of every kind, including corporate income, personal
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 income, sales, use, raw materials, job creation, industrial
 
 2 investment, excise, utility, inventory, accelerated depreciation
 
 3 and research and development tax credits and discounts.
 
 4      "Full-time job" means a job in which the new employee works
 
 5 for the recipient corporation for at least thirty-five hours per
 
 6 week.
 
 7      "Granting body" means any public entity within the State,
 
 8 including the State, counties, regional development
 
 9 organizations, state and local public corporations, state
 
10 departments or agencies that provide development assistance,
 
11 including the department of business, economic development, and
 
12 tourism, the department of labor and industrial relations, the
 
13 department of human resources development, workforce development
 
14 boards, economic development commissions, industrial development
 
15 authorities, regional development authorities, and finance
 
16 authorities.
 
17      "In effect" refers to any calendar year within the duration
 
18 of the development assistance, including the duration of any
 
19 loan, loan guarantee, tax credit or tax credit carryforward,
 
20 property tax reduction or abatement, or tax increment financing.
 
21 For on-time forms of development assistance such as grants and
 
22 land price subsidies, "in effect" shall refer to a period of not
 
23 less than five years from the date of assistance.
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      "Part-time job" means a job in which the new employee works
 
 2 for the recipient corporation for less than thirty-five hours per
 
 3 week.
 
 4      "Property-taxing entity" means every entity in the State
 
 5 which levies taxes upon real property or personal property,
 
 6 including the counties.
 
 7      "Small businesses" means those corporations whose corporate
 
 8 parents, and all subsidiaries thereof, employed fewer than an
 
 9 average of twenty full-time equivalent employees or which had
 
10 gross receipts of less than $1,000,000 in all United States
 
11 jurisdictions during the calendar year for which disclosure is
 
12 required.
 
13      "Specific project site" means that distinct operation unit
 
14 to which any development assistance is applied.
 
15      "Temporary job" means a job in which the new employee is
 
16 hired for a specific duration of time or season.
 
17      "Value of assistance" means the face value of any and all
 
18 forms of development assistance, as defined herein, such as a
 
19 bond amount.
 
20         -2 Disclosure of state tax expenditures.(a)
 
21 Beginning July 1, 2001, and for each succeeding year, the
 
22 department of taxation shall provide a detailed tax expenditure
 
23 budget to the legislature, derived from state income tax filings
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 for the previous calendar year.  The disclosure report shall
 
 2 provide at least the following data:
 
 3      (1)  The dollar amount of tax expenditures made by the
 
 4           State, in the form of uncollected revenues, for each
 
 5           individual tax credit provided by the State, including
 
 6           credits for the wages of certain qualified employees,
 
 7           enterprise zones, empowerment zones, tax increment
 
 8           financing, grants, matching funds, tax abatements, and
 
 9           tax credits and tax discounts of every kind, including
 
10           corporate income, personal income, sales, use, raw
 
11           materials, job creation, industrial investment, excise,
 
12           utility, inventory, accelerated depreciation and
 
13           research and development tax credits or discounts;
 
14      (2)  For each of the tax expenditures in paragraph (1),
 
15           except as specified in paragraph (3), an itemization of
 
16           the name of each individual corporate taxpayer which
 
17           claimed the credit of any value equal to or greater
 
18           than $5,000, and the specific dollar amount credited to
 
19           the corporation's tax liability under that credit for
 
20           that year; and
 
21      (3)  Credits claimed by individual corporations of less than
 
22           $5,000 shall not be itemized as required in paragraph
 
23           (2).  Instead, in reporting credits for each tax
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1           expenditure, the department of taxation shall aggregate
 
 2           all claims of less than $5,000 and report them as a
 
 3           single non-specified group, with the number of
 
 4           claimants stated.
 
 5      (b)  All data produced by the department of taxation and
 
 6 received by the legislature in compliance with this section shall
 
 7 comply with applicable disclosure laws.
 
 8         -3 Disclosure of property tax reductions and
 
 9 abatements.(a)  On or before October 1, 2000, the counties
 
10 shall develop a standardized disclosure registry.  The form shall
 
11 require at least the following data:
 
12      (1)  The name of the property owner;
 
13      (2)  The address and description of the property;
 
14      (3)  The date upon which any individual property tax
 
15           reduction or abatement first took effect;
 
16      (4)  The date upon which any individual property tax
 
17           reduction or abatement is scheduled to expire;
 
18      (5)  The rate or schedule of each individual property tax
 
19           reduction or abatement for the period between the date
 
20           it took effect and the date it is scheduled to expire;
 
21      (6)  The county's aggregate foregone revenue for the
 
22           calendar year as a result of each property tax
 
23           reduction or abatement;
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (7)  A compilation and summary of the entity's total
 
 2           foregone revenue as a result of all property tax
 
 3           reductions or abatements, including a summary of
 
 4           foregone revenue for each kind of reduction or
 
 5           abatement; and
 
 6      (8)  The respective shares of the county's property tax
 
 7           revenues in the reported year which went to each
 
 8           designated public agency including general funds,
 
 9           public safety, fire department, park districts, and
 
10           general administration.
 
11      (b)  Beginning July 1, 2001, and for each year thereafter,
 
12 the counties shall employ this standardized registry to report to
 
13 the department of taxation all property tax reductions or
 
14 abatements which had effect during the previous calendar year.
 
15      (c)  The department of taxation, by July 1, 2001, and for
 
16 each year thereafter, shall compile and publish all data in all
 
17 of the disclosure registries in both written and electronic form.
 
18      (d)  If a county fails to comply with subsection (b), the
 
19 department of taxation, within ten working days of the July 1
 
20 filing deadline, shall notify the department of business,
 
21 economic development, and tourism of that failure.  Upon receipt
 
22 of the notice, the department of business, economic development,
 
23 and tourism shall suspend within three working days any current
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 development assistance activities under its control in the
 
 2 county's jurisdiction, and shall be prohibited from completing
 
 3 any current development assistance or providing any future
 
 4 development assistance in that county unless and until it
 
 5 receives proof from the department of taxation that the county
 
 6 has complied with subsection (b).
 
 7      (e)  In the event any state agency fails to enforce
 
 8 subsection (d), any person who paid personal income taxes or
 
 9 other taxes to the State in the calendar year prior to the year
 
10 in dispute shall have standing to sue to compel the State to
 
11 enforce the law.  The court shall award the taxpayer plaintiff
 
12 who prevails reasonable attorney's fees and costs in any such
 
13 enforcement action.
 
14      (f)  All data generated in compliance with subsections (a)
 
15 and (b) shall comply with applicable disclosure laws.
 
16         -4 Standardized applications for on-budget development
 
17 assistance.(a)  Before October 2, 2000, the department of
 
18 business, economic development, and tourism shall adopt a
 
19 standardized application form for on-budget development
 
20 assistance for use by all granting bodies.  The form shall
 
21 include at least the following data:
 
22      (1)  An application tracking number which is specific to
 
23           both the granting agency and to each application;
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (2)  The name, street and mailing addresses, phone number
 
 2           and director or chief officer of the granting body;
 
 3      (3)  The name, street and mailing addresses, phone number
 
 4           and chief officer of the corporate parent of the
 
 5           applicant corporation;
 
 6      (4)  The name, street and mailing addresses, phone number,
 
 7           four-digit SIC number, and chief officer of the
 
 8           applicant corporation at the specific project site for
 
 9           which development assistance is sought;
 
10      (5)  The applicant corporation's total number of employees
 
11           at the specific project site on the date of the
 
12           application, categorized by full-time, part-time, and
 
13           temporary status;
 
14      (6)  The total number of employees in the State of the
 
15           applicant corporation's corporate parent, and all
 
16           subsidiaries thereof, as of December 31 of the year
 
17           preceding the date of application, categorized by full-
 
18           time, part-time, and temporary status;
 
19      (7)  The kinds of development assistance and values of
 
20           assistance applied for;
 
21      (8)  The number of new jobs to be created by the development
 
22           assistance, categorized by full-time, part-time, and
 
23           temporary status;
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (9)  The average hourly wage to be paid within one year of
 
 2           hiring to the new employees, categorized by number of
 
 3           full-time, part-time, and temporary status employees,
 
 4           and categorized by wage bands as follows:  $6 or less
 
 5           an hour, $6.01 to $7 an hour, $7.01 to $8 an hour,
 
 6           $8.01 to $9 an hour, $9.01 to $10 an hour, $10.01 to
 
 7           $11 an hour, $11.01 to $12 an hour, $12.01 to $13 an
 
 8           hour, $13.01 to $14 an hour, and $14.01 or more per
 
 9           hour;
 
10     (10)  For applicant project sites located in a "metropolitan
 
11           statistical area", as defined by the United States
 
12           Census Bureau, the average hourly wage paid non-
 
13           managerial employees in the applicant's industry in the
 
14           State, as most recently provided by the United States
 
15           Bureau of Labor Statistics to the two- or three-digit
 
16           SIC number specification, as available;
 
17     (11)  For applicant project sites located outside of
 
18           metropolitan statistical areas, the average weekly wage
 
19           paid in the county, as most recently reported by the
 
20           United States Department of Commerce in its County
 
21           Business Patterns reports;
 
22     (12)  The nature of employer-aid health care coverage to be
 
23           provided within ninety days of hiring to the employees
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1           filling the new jobs, including any costs to be borne
 
 2           by the new employees;
 
 3     (13)  A list of all other forms of development assistance the
 
 4           applicant corporation is seeking for the specific
 
 5           project site, and the name or names of the granting
 
 6           body or bodies from which that development assistance
 
 7           is being sought;
 
 8     (14)  A narrative, if necessary, describing how the
 
 9           applicant's use of the development assistance may
 
10           reduce employment at any site in any United States
 
11           jurisdiction controlled by the applicant corporation or
 
12           its corporate parent, including events such as
 
13           automation, consolidation, merger, acquisition, product
 
14           line movement, business activity movement, or
 
15           restructuring by either the applicant corporation or
 
16           its corporate parent; and
 
17     (15)  Individual certifications by the chief officers of both
 
18           the applicant corporation and the granting body as to
 
19           the accuracy of the application, under penalty of
 
20           perjury.
 
21      (b)  Beginning October 1, 2000, every granting body in the
 
22 State, jointly with applicant corporations, shall fill out the
 
23 standardized application form as prescribed in subsection (a)
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 each time a corporation applies for development assistance.
 
 2         -5 On-budget development assistance disclosure.(a)
 
 3 Beginning July 1, 2001, and for each year thereafter, every
 
 4 granting body in the State shall submit to the department of
 
 5 business, economic development, and tourism copies of all the
 
 6 standardized applications forms for development assistance, as
 
 7 specified in section    -4, that it has received in the previous
 
 8 calendar year.  Upon each form, the granting body shall designate
 
 9 whether the development assistance is pending, was approved, or
 
10 was not approved, and for those applications that were approved,
 
11 the date of assistance if the date of assistance occurred in the
 
12 previous calendar year.
 
13      (b)  For those applications that were approved but for which
 
14 the date of assistance did not occur in the same calendar year,
 
15 each granting body shall report in its next subsequent July 1,
 
16 annual report to the department of business, economic
 
17 development, and tourism the relevant dates of assistance.
 
18      (c)  For each development assistance application that was
 
19 approved, and for which the date of assistance has occurred in a
 
20 reporting year, each granting agency shall submit to the
 
21 department of business, economic development, and tourism a
 
22 progress report, which shall include at least the following data:
 
23      (1)  The application tracking number;
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (2)  The name, street and mailing addresses, phone number
 
 2           and director or chief officer of the granting body;
 
 3      (3)  The name, street and mailing addresses, phone number,
 
 4           four-digit SIC number, and chief officer of the
 
 5           corporation at the specific project site for which the
 
 6           development assistance was approved;
 
 7      (4)  The kind of development assistance and value of
 
 8           assistance that was approved;
 
 9      (5)  The applicant's total level of employment at the
 
10           specific project site on the date of the application
 
11           and the applicant's total level of employment at the
 
12           specific project site on the date of the report,
 
13           categorized by full-time, part-time, and temporary
 
14           status, and a computation of the gain or loss in each
 
15           category;
 
16      (6)  The number of new jobs the applicant corporation stated
 
17           in its application would be created by the development
 
18           assistance, categorized by full-time, part-time, and
 
19           temporary status;
 
20      (7)  The total level of employment in the State of the
 
21           applicant's corporate parent, and all subsidiaries
 
22           thereof, as of December 31 of the year preceding the
 
23           date of application and the total level of employment
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1           in the State of the applicant's corporate parent, and
 
 2           all subsidiaries thereof, as of each December 31, up
 
 3           through the reporting year, categorized by full-time,
 
 4           part-time, and temporary status, and a statement of the
 
 5           gain or loss in each category from the earliest
 
 6           reported year to the most recent;
 
 7      (8)  The average hourly wage paid as of December 31 of the
 
 8           reporting year to employees filling the new jobs at the
 
 9           specific project site, broken down by full-time, part-
 
10           time, and temporary status;
 
11      (9)  The nature of employer-paid health care coverage
 
12           provided within ninety days of hiring to the employees
 
13           filling the new jobs, including any costs borne by the
 
14           new employees;
 
15     (10)  A narrative, if necessary, describing how the recipient
 
16           corporation's use of the development assistance during
 
17           the reporting year has reduced employment at any site
 
18           in any United States jurisdiction controlled by the
 
19           applicant or its corporate parent, including events
 
20           such as automation, consolidation, merger, acquisition,
 
21           product line movement, business activity movement, or
 
22           restructuring by either the applicant or its corporate
 
23           parent; and
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1     (11)  Signed individual certifications by the directors or
 
 2           chief officers of both the applicant corporation and
 
 3           the granting body as to the accuracy of the progress
 
 4           report, under penalty of perjury.
 
 5      (d)  The granting body and the department of business,
 
 6 economic development, and tourism shall have full investigative
 
 7 authority to verify the applicant's progress report data,
 
 8 including but not limited to inspection of the specific project
 
 9 site and analysis of tax and payroll records.
 
10      (e)  By July 1, 2001, and by July 1 of each year thereafter,
 
11 the department of business, economic development, and tourism
 
12 shall compile and publish all data in all of the development
 
13 assistance progress reports in both written and electronic form.
 
14      (f)  Every aspect of all development assistance
 
15 applications, progress reports, and the department of business,
 
16 economic development, and tourism compilation of applications and
 
17 progress reports shall comply with applicable disclosure laws.
 
18      (g)  If a granting body fails to comply with subsection (a)
 
19 to (e), or if a recipient corporation fails to comply with
 
20 paragraph (c)(11), the department of business, economic
 
21 development, and tourism, within ten working days of the July 1
 
22 filing deadline, shall suspend any current development assistance
 
23 activities under its control in the granting body's jurisdiction,
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 and shall be prohibited from proceeding with any current or
 
 2 future development assistance activities under its control in the
 
 3 granting body's jurisdiction, unless and until it receives proof
 
 4 that the negligent granting body or recipient corporation has
 
 5 complied with the above-specified sections.
 
 6         -6 Job creation and job quality standards.(a)  In
 
 7 considering development assistance applications, all granting
 
 8 bodies shall perform two analyses concerning the projected wages
 
 9 and benefits.  Specifically:
 
10      (1)  In considering development assistance applications, all
 
11           granting bodies shall compare the aggregate projected
 
12           wage, as specified under section    -4(a), with
 
13           existing wages, as specified and defined under section
 
14              -4(a)(10) and (11).  To derive the aggregate
 
15           projected wage, the granting body shall compute the
 
16           weighted hourly average wage for all new employees,
 
17           including full-time, part-time, and temporary status
 
18           employees.  If the aggregate projected wage is less
 
19           than eighty-five per cent of existing wages, the
 
20           application shall be denied.  For small businesses, if
 
21           the aggregate projected wage is less than seventy-five
 
22           per cent of existing wages, the application shall be
 
23           denied; and
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (2)  In considering development assistance applications, all
 
 2           granting bodies shall perform a second wage computation
 
 3           to consider the value of health care coverage provided
 
 4           to full-time employees, as specified in section
 
 5              -4(a)(12).  If the applicant corporation is not
 
 6           providing health care coverage to full-time employees,
 
 7           the granting body shall subtract $1.50 an hour from the
 
 8           projected wage.  If the recipient corporation projects
 
 9           some health care costs to be borne by the new full-time
 
10           employees, the granting body, based on data from the
 
11           applicant corporation, shall estimate the hourly cost
 
12           to the new full-time employee of those costs and
 
13           subtract that amount from the projected wage.  If the
 
14           amount resulting from that subtraction is less than
 
15           eighty per cent of existing wages as specified and
 
16           defined under section    -4(a)(10) and (11), the
 
17           application shall be denied.  For small businesses, if
 
18           the amount resulting from such subtraction is less than
 
19           seventy per cent of existing wages, the application
 
20           shall be denied.
 
21      (b)  Granting bodies shall perform a third eligibility
 
22 analysis.  In considering development assistance applications,
 
23 all granting bodies shall divide the value of assistance, as
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 defined in section    -1, and specified in section    -4(a)(7),
 
 2 by the number of projected full-time jobs, as defined in section
 
 3    -4(a)(8).  If the resulting sum exceeds $35,000, the
 
 4 application shall be denied.
 
 5      (c)  A granting body's requirement under subsection (a) may
 
 6 be waived in a bona fide collective bargaining agreement that
 
 7 covers employees at the specific project site of the applicant
 
 8 corporation, but only if the waiver is explicitly set forth in
 
 9 such collective bargaining agreement in clear and unambiguous
 
10 terms.  Unilateral implementation of terms and conditions of
 
11 employment by either party to a collective bargaining agreement
 
12 shall not constitute, or be permitted, as a waiver of subsections
 
13 (a) and (b).
 
14         -7 Recapture.(a)  Recipient corporations are required
 
15 to achieve their job creation and wage and benefit goals within
 
16 two years of the date of assistance.  They are also required to
 
17 maintain their wage and benefit goals as long as the benefit is
 
18 in effect, as defined in section    -1.  Corporate parents of
 
19 recipient corporations are required to maintain at least ninety
 
20 per cent of their original State employment, as specified in
 
21 section    -4(a)(6), and section    -5(c)(7).
 
22      (b)  Granting bodies, within ten working days after the
 
23 second anniversary of the date of assistance, shall fill out a
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 standardized progress report, the same as prescribed in section
 
 2    -5 and the recipient corporation shall sign it and certify its
 
 3 accuracy under penalty of perjury.  This second anniversary
 
 4 progress report shall be filed by the granting body with the
 
 5 department of business, economic development, and tourism along
 
 6 with the granting body's next annual filing of progress reports.
 
 7      (c)  The granting body shall indicate on this second
 
 8 anniversary progress report whether the recipient corporation has
 
 9 achieved its job creation and wage and benefit goals, and whether
 
10 the corporate parent has maintained ninety per cent of its State
 
11 employment.
 
12      (d)  On all subsequent annual progress reports, the granting
 
13 body shall indicate whether or not the recipient corporation is
 
14 still in compliance with its job creation and wage and benefit
 
15 goals, and whether the corporate parent is still in compliance
 
16 with its State employment maintenance requirement.
 
17      (e)  If on any progress report occasion, beginning with the
 
18 second anniversary progress report, a granting body finds that a
 
19 recipient corporation has not achieved its job creation or wage
 
20 or benefit goals, or the corporate parent has not maintained
 
21 ninety per cent of its state employment, the granting body must,
 
22 within ten working days, file a finding of development assistance
 
23 default with the department of business, economic development,
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1 and tourism and with the recipient corporation.
 
 2      (f)  If a recipient corporation defaults on development
 
 3 assistance, as provided in subsection (e), it must pay back to
 
 4 the granting body that fraction of the development assistance
 
 5 that accrued to its benefit for the calendar year in which the
 
 6 default occurred. For on-time forms of development assistance
 
 7 such as grants or land price discounts, a defaulting recipient
 
 8 corporation must pay back to the granting body one fifth of the
 
 9 value of assistance.  Remittance of the payback by the recipient
 
10 corporation to the granting body shall take place within sixty
 
11 calendar days of the delivery of the default notice to the
 
12 recipient corporation.
 
13      (g)  If a recipient corporation defaults on development
 
14 assistance, as provided in subsection (e), in three consecutive
 
15 calendar years, the granting body shall declare the development
 
16 assistance void, and shall so notify the department of business,
 
17 economic development, and tourism and the recipient corporation.
 
18 Upon that declaration, the recipient corporation must pay back to
 
19 the granting body all remaining value of the development
 
20 assistance it has not already paid back.  Remittance of the void
 
21 payback by the recipient corporation to the granting body shall
 
22 take place within one hundred eighty calendar days of the
 
23 delivery of such notice to the recipient corporation.
 

 
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                                     S.B. NO.           
                                                        
                                                        


 1      (h)  Every aspect of all development assistance default
 
 2 notices, recapture remittances, associated correspondence, and
 
 3 related proceedings shall comply with applicable disclosure laws.
 
 4      (i)  If a granting body fails to enforce this section, any
 
 5 person who paid personal income taxes or any other taxes to the
 
 6 State in the calendar year prior to the year in dispute, or any
 
 7 organization representing such taxpayers, shall be entitled to
 
 8 bring a civil action in state court to compel enforcement under
 
 9 this statute.  The court shall award to any prevailing taxpayer
 
10 plaintiff or organizational plaintiff reasonable attorney's fees
 
11 and actual incurred costs in pursuing such enforcement action."
 
12      SECTION 3.  This Act shall take effect upon its approval.
 
13 
 
14                              INTRODUCED BY:______________________