SECOND REGULAR SESSION
HOUSE BILL NO. 1554
96TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES HUGHES (Sponsor) AND ELLINGTON (Co-sponsor).
5309L.01I D. ADAM CRUMBLISS, Chief Clerk
To amend chapter 620, RSMo, by adding thereto one new section relating to an economic development grant program.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Chapter 620, RSMo, is amended by adding thereto one new section, to be known as section 620.1950, to read as follows:
620.1950. 1. There is hereby created an "Economic Development Grant Program", which shall consist of moneys appropriated annually by the general assembly from general revenue for grants and any gifts, bequests, or donations for grants.
2. The department of economic development shall administer the economic development grant program and approve disbursements from such program.
3. The money deposited into the economic development grant program shall be used and distributed to allow companies to reopen a manufacturing factory that has been closed. The amount granted to such company shall not exceed the amount of money necessary for such company to reopen such manufacturing factory. The department of economic development shall develop a procedure for those eligible under this section to apply for such grant.
4. In the event that the appropriations for this grant program are insufficient to fund all grants approved by the department of economic development for a given fiscal year, all such grants shall be reduced pro rata as necessary.
5. The department shall promulgate rules to implement the provisions of this section. Any rule or portion of a rule, as that term is defined in section 536.010, that is created under the authority delegated in this section shall become effective only if it complies with and is subject to all of the provisions of chapter 536 and, if applicable, section 536.028. This section and chapter 536 are nonseverable and if any of the powers vested with the general assembly pursuant to chapter 536 to review, to delay the effective date, or to disapprove and annul a rule are subsequently held unconstitutional, then the grant of rulemaking authority and any rule proposed or adopted after August 28, 2012, shall be invalid and void.
6. Under section 23.253 of the Missouri sunset act:
(1) The provisions of the new program authorized under this section shall automatically sunset six years after the effective date of this section unless reauthorized by an act of the general assembly; and
(2) If such program is reauthorized, the program authorized under this section shall automatically sunset twelve years after the effective date of the reauthorization of this section; and
(3) This section shall terminate on September first of the calendar year immediately following the calendar year in which the program authorized under this section is sunset.