LAUZEN-WELCH-OBAMA. (FRANKS-DELGADO) New Act Creates the State Economic Assistance Refund Act. Provides that if a business organization receives State economic assistance and then closes a facility at which it does business in this State not more than 5 years after receiving the assistance, the organization must repay to the State the full amount of State economic assistance that it received. If the organization closes a facility more that 5 years but not more than 10 years after receiving the assistance, the organization must repay to the State 50% of the State economic assistance that it received. No repayment is required if the organization closes a facility more than 10 years after receiving the assistance. Effective immediately. SENATE AMENDMENT NO. 1. Deletes everything after the enacting clause. Creates the State Economic Assistance Accountability Act. States the requirements for State economic assistance in the form of tax credits, tax exemptions, grants, and loans provided to business organizations by DCCA. Provides that such assistance must be based on a written incentive agreement, and requires that such an agreement contain certain provisions concerning the consequences of a business organization's failure to make the requisite level of capital investment or to create or retain the specified number of jobs within the specified time period. Provides that the Act applies to all State economic assistance given by DCCA on or after the Act's effective date. Effective immediately. FEB-21-2001 S FIRST READING FEB-21-2001 S REFERRED TO SENATE RULES COMMITTEE RULES FEB-28-2001 S ASSIGNED TO COMMITTEE COMM & INDUST MAR-08-2001 S POSTPONED MAR-22-2001 S POSTPONED MAR-29-2001 S AMENDMENT NO. 01-COMM & INDUS S MAR-29-2001 S ADOPTED MAR-29-2001 S DO PASS AS AMENDED 008-000-001 SCED MAR-29-2001 S PLACED ON CALENDAR ORDER OF 2ND READING 01-03-30 APR-03-2001 S SECOND READING APR-03-2001 S PLACED ON CALENDAR ORDER OF 3RD READING 01-04-04 APR-04-2001 S ADDED AS A CHIEF CO-SPONSOR WELCH APR-05-2001 S ADDED AS A CHIEF CO-SPONSOR OBAMA APR-05-2001 S THIRD READING - PASSED 057-000-000 APR-05-2001 H ARRIVE IN HOUSE APR-05-2001 H HOUSE SPONSOR FRANKS APR-05-2001 H FIRST READING APR-05-2001 H REFERRED TO HOUSE RULES COMMITTEE RULES APR-06-2001 H ASSIGNED TO COMMITTEE COMM BUSS DEV APR-19-2001 H DO PASS/STANDARD DEBATE 009-000-000 HCBD APR-19-2001 H PLACED CAL 2ND READING-STANDARD DEBATE APR-19-2001 H ADDED AS AN ALTERNATE CO-SPONSOR SCULLY APR-19-2001 H ADDED AS AN ALTERNATE CO-SPONSOR FLOWERS APR-19-2001 H ADDED AS A JOINT SPONSOR DELGADO APR-24-2001 H SECOND READING-STANDARD DEBATE APR-24-2001 H PLCD CAL ORDER 3RD READING-STNDRD DEBATE APR-25-2001 H ADDED AS AN ALTERNATE CO-SPONSOR SCULLY APR-25-2001 H ADDED AS AN ALTERNATE CO-SPONSOR FLOWERS APR-25-2001 H THIRD READING/STANDARD DEBATE/PASS 102-011-000 APR-25-2001 S PASSED BOTH HOUSES MAY-24-2001 S SENT TO THE GOVERNOR JUL-12-2001 S GOVERNOR VETOED NOV-07-2001 S PLACED CALENDAR TOTAL VETO NOVEMBER 13, 2001 NOV-15-2001 S MOTION FILED OVERRIDE GOVERNOR VETO LAUZEN NOV-15-2001 S 3/5 VOTE REQUIRED NOV-15-2001 S OVERRIDE GOVERNOR VETO - SENATE LOST 031-023-001 NOV-15-2001 S TOTAL VETO STANDS END OF INQUIRY Full Text Bill Summary