AMENDMENT NO 9 TO COMMITTEE AMENDMENT NO 1 PROPOSED TO
House Bill No. 1634
BY: Senator(s) Davis
AMEND by inserting the following after line 1334:
(xx) Any master planned community consisting of not less than four thousand five hundred (4,500) acres that includes residential, commercial, tourism, healthcare, open space and recreational components with a capital investment from private sources of not less than One Billion Dollars ($1,000,000,000.00) over a ten-year period, which will create at least two thousand five hundred (2,500) jobs. The authority shall require that binding commitments be entered into requiring that:
1. The minimum requirements for the project provided for in this subparagraph shall be met; and
2. That if such commitments are not met, all or a portion of the funds provided by the state for the project as determined by the authority shall be repaid.
FURTHER, amend by inserting the following after line 1505:
(r) Bonds issued under the authority of this section for projects defined in Section 57-75-5(f)(xx) shall not exceed Two Million Dollars ($2,000,000.00). No bonds shall be issued under this paragraph after June 30, 2020.