Bill Summaries: S223 (2017-2018 Session)

Tracking:
  • Summary date: Jun 29 2017 - View summary

    House committee substitute makes the following changes to the 4th edition.

    Changes the long title.

    Deletes Section 1, enacting Part 2L, North Carolina Rural Job Creation Fund, in Article 10 of GS Chapter 143B. Deletes Section 2, directing the Department of Commerce to adopt rules providing for the administration of the Rural Job Creation Fund prior to the convening of the 2018 Regular Session.

    Amends GS 143B-437.52, as amended by Section 15.15A of SL 2017-57, providing that the limitation for grants awarded under the Job Development Investment Grant Program set out in GS 143B-437.52(c)(1) also does not apply to a project located wholly within a development tier one area, a development tier two area, or a combination thereof. 


  • Summary date: Jun 27 2017 - View summary

    House committee substitute deletes all provisions of the 3rd edition and replaces them with the following.

    Section 1 adds a new Part 2L to Article 10 of Chapter 143B creating the North Carolina Rural Job Creation Fund. 

    New GS 143B-437.135 names the new part the North Carolina Rural Job Creation Fund.

    New GS 143B-437.136 establishes definitions for the following sixteen terms: affiliatebusiness concernclosing datedepartmentdevelopment tier areaearned job factorfull-time employeegrowth investmentinvestment authoritynet full-time employeeprincipal business operationsprivate contributionsrepayment amountreparable grantrural county, and rural fund.

    New GS 143B-437.137 establishes the application process for approval as a rural fund beginning October 1, 2018.  The application must include total investment authority sought, license as either a rural business investment company or a small business investment company (both terms defined under federal law), evidence that the applicant has invested at least $100 million in nonpublic companies located in communities with less than 50,000 residents, and an affidavit from each investor stating the investor’s amount of contributions to the fund.  Requires the Department of Commerce (Department) to make application determinations by November 30, 2018, and limits approval to no more than $100 million in investment authority (if multiple applicants qualify, Department must apportion investment authority among qualified applicants).  Limits Department’s ability to deny applications only in instances where the applicant does not provide all required information, affidavits indicate private contributions of less than 50% of requested investment authority, or the maximum amount of investment authority has already been granted.  Provides for appeal process upon denial of application.  Requires fund to secure private contributions within 60 days of approval and provide confirmation of contributions within 65 days of approval.  Failure results in forfeiture of approval.

    New GS 143B-437.138 establishes the NC Rural Job Creation Fund as a special revenue fund within the Department of Commerce.  Requires the Department and the fund to execute an agreement under which the Department makes allocations to the fund and the fund is obligated to invest funds received.

    New GS 143B-437.139 sets out conditions under which the Department is required to demand repayment of grants, including failure to invest all monies within three years of receipt, failure to maintain growth investments equal to 100% of its investment authority or exiting the program with less than 100% of the fund's investment authority invested in growth investments, providing more than $5 million to a single business concern, or making investments that constitute a conflict of interest with investors.  Sets out notice requirements for repayment.

    New GS 143B-437.140 authorizes a rural fund to seek a written opinion from the Department on whether a particular investment meets the requirements of Part 23.  If requested, the Department must render a determination within fifteen days.

    New GS 143B-437.141 sets out various reporting requirements for rural funds and the Department, and authorizes the Department to adopt rules necessary to implement Part 23.

    New GS 143B-437.142 requires the Department to calculate and assess annual fees on rural funds under a formula prescribed in this section.

    New GS 143B-437.143 establishes procedures by which a rural fund exits from the grant program.

    Section 2 directs the Department of Commerce to adopt rules to administer the NC Rural Job Creation Fund prior to the convening of the 2018 Regular Session.

    Makes conforming changes to the act's titles.


  • Summary date: Jun 6 2017 - View summary

    House committee substitute makes the following changes to the 2nd edition.

    Changes the long title.

    Changes the effective date of Section 1, amending GS 14-7.1, to December 1, 2017 (was, effective when the act becomes law). Adds that these provisions apply to offenses committed on or after that date and that is the principal felony offense for a charge of a status offense of habitual felon.

    Adds new Section 2, eliminating the sunset provision set out in Section 7 of SL 2009-369, as amended, which allows an individual convicted of habitual impaired driving to be eligible to petition for a hearing to restore driving privileges after 10 years without any traffic or criminal convictions (currently, expire December 1, 2016). Retroactively effective December 1, 2016. 

    Clarifies that prosecutions for offenses committed before the effective date of the act are not abated or affected by this act, and the statutes that would be applicable but for this act remain applicable to those prosecutions. 


  • Summary date: Mar 23 2017 - View summary

    Senate committee substitute makes the following change to the 1st edition:

    Requires felony offenses in other states, or offenses that are crimes in states that do not classify any crimes as felonies, to be substantially similar to felony offenses in North Carolina to be considered a felony offense under GS 14-7.1, in addition to the other current and proposed requirements.


  • Summary date: Mar 8 2017 - View summary

    Amends GS 14-7.1, concerning the definition of a felony offense for the purpose of declaring individuals to be a habitual felon, providing that (1) an offense that is a felony and committed under the laws of another state and for which a guilty plea entered or a conviction returned, (2) an offense that is a crime under the laws of another state that does not classify any crimes as felonies but that are punishable by imprisonment for more than a year in state prison and for which a guilty plea has been entered or a conviction returned, and (3) any offense that is a felony under federal law are considered felony offenses for the purposes of determining if an individual is a habitual felon. Makes clarifying and organizational changes.