74-50,224. Job creation program fund; expenditures; purposes; annual report.
(a) There is hereby created in the state treasury the job creation program fund. The secretary of commerce, in consultation with the secretary of revenue and the governor, shall administer the fund. All expenditures from the fund shall be for the purpose of promoting job creation and economic development by funding projects related to: (1) Major expansion of an existing Kansas commercial enterprise;
(2) potential location in Kansas of the operations of a major employer;
(3) award of a significant federal or private sector grant which has a financial matching requirement;
(4) potential departure from Kansas or the substantial reduction of the operations of a major Kansas employer;
(5) training or retraining activities for employees in Kansas companies;
(6) potential closure or substantial reduction of the operations of a major state or federal institution;
(7) projects in counties with at least a 10% population decline during the period from 2000 to 2010; or
(8) other unique economic development opportunities.
(b) All expenditures from the fund shall be for the purposes described in subsection (a) and shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary of commerce or the secretary's designee.
(c) The secretary shall annually make a report on activities of the department related to administration of the job creation program fund and the funding of projects therefor. Such report shall contain specific and aggregate information regarding all expenditures from the fund, projects receiving funds, the amount of funds expended for each project, the reason and purpose described in subsections (a)(1) through (a)(8) for which funding was approved for each project, the number and characteristics of jobs created or retained in Kansas, the number of such jobs created or retained which do not continue to exist and the circumstances and effect of such discontinuance, and any other accomplishments related thereto. The secretary shall present such report to the president of the senate, the speaker of the house, the senate minority leader, the house minority leader, the house committee on taxation, the senate committee on assessment and taxation, the senate committee on commerce and the house committee on commerce and economic development during January of each year.
History: L. 2011, ch. 116, § 1; July 1.