State Economic Development Contracts

Provides short title; defines; requires employer to sign agreement with Department of Commerce before becoming eligible for economic development incentive; specifies provisions of agreement; provides applicability; authorizes persons & entities to report suspected violation to department within specified timeframe; requires department to determine whether violation has occurred; requires department to deliver written notice to Attorney General; requires Attorney General to request certain information from employer alleged to be in violation; requires Attorney General to initiate proceedings to recover funds awarded to employer if employer is found to have violated agreement; provides that department's findings are final; requires department to execute separate written agreement with recipient of economic development incentive before department awards incentive; specifies contents of separate agreement; provides effective periods of separate agreement.