Bill Status of SB0203 101st General Assembly
Short Description: COMPANY-SPECIFIC SUBSIDIES
Sen. Don Harmon and Steven M. Landek
| 1/13/2021||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Company-Specific Subsidy Interstate Compact. Enters into the compact, which may be entered into by any state and the District of Columbia, in which each member state agrees to not offer company-specific subsidies for companies currently located in or considering locating in the member state, including, but not limited to, for corporate headquarters, manufacturing facilities, office space, or other real estate developments. Excludes existing company-specific subsidies (until terms change, are renewed, or are reenacted) and workforce from abolition under the compact. Creates the Interstate Company-Specific Subsidy Board upon the second member state entering into the compact. Provides for withdrawal of a member state with 6-months' written notice. Defines terms.