Adopted

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.