[As Further Amended by Senate Committee of the
Whole]
As Amended by Senate Committee
As Amended by House Committee
Session of 2000
HOUSE BILL No. 2832
By Committee on Economic Development
2-2
13 AN ACT relating
to the Kansas economic opportunity initiatives fund;
14 concerning reporting
requirements for expenditures therefrom;
15 amending K.S.A. 1999
Supp. 74-50,151 and repealing the existing
16 section.
17
18 Be it enacted by the Legislature of the
State of Kansas:
19 Section
1. K.S.A. 1999 Supp. 74-50,151 is hereby amended to read
20 as follows: 74-50,151. (a) There is hereby
created in the state treasury the
21 Kansas economic opportunity initiatives
fund. Subject to acts of the leg-
22 islature applicable thereto, the moneys in
the Kansas economic oppor-
23 tunity initiatives fund shall be used only
for the purposes prescribed by
24 this section.
25 (b) All
expenditures made pursuant to this act shall be made in ac-
26 cordance with appropriations acts upon
warrants of the director of ac-
27 counts and reports issued pursuant to
vouchers approved by the governor
28 or the governor's designee. The governor
may approve a warrant upon
29 certification, by the secretary of commerce
and housing, that an economic
30 emergency or unique opportunity exists
which warrant funding for a stra-
31 tegic economic intervention by such state
agency or agencies to address
32 expenses involved in securing economic
benefits or avoiding or remedying
33 economic losses related to:
34 (1) A major
expansion of an existing Kansas commercial enterprise;
35 (2) the potential
location in Kansas of the operations of a major
36 employer;
37 (3) the award of
a significant federal or private sector grant which has
38 a financial matching requirement;
39 (4) the departure
from Kansas or the substantial reduction of the
40 operations of a major employer;
and
41 (5) the closure
or the substantial reduction of a major federal or
42 state institution or
facility. [; and]
43 [(6) the staging of a
national event by a local government.]
2
1 (c) An
intervention strategy may include financial assistance in the
2 form of grants, loans or both. The
department of commerce and housing
3 shall adopt written guidelines
concerning the terms and conditions of any
4 such loans. However, all repaid funds
shall be credited to the Kansas
5 economic opportunity initiatives
fund. No intervention strategy approved
6 pursuant to this act shall facilitate
the moving of an existing Kansas firm
7 to another location within the state
unless such restriction is waived by
8 the secretary of commerce and
housing. Every intervention strategy ap-
9 proved pursuant to this act shall
identify the intended outcomes to be
10 realized by the strategy for which funding
is sought.
11 (d) The
department of commerce and housing and Kansas, Inc. shall
12 make joint findings concerning the costs
and benefits, on both a local and
13 statewide basis, of projects proposed
pursuant to this act. Prior to allo-
14 cation of any funds pursuant to this act,
the governor shall review the
15 cost-benefit findings performed on each
project.
16 (e) The director
of the budget and the director of the legislative re-
17 search department shall consult
periodically and review the balance cred-
18 ited to and the estimated receipts to be
credited to the state economic
19 development initiatives fund during the
fiscal year. During any period
20 when the legislature is not in session,
upon a finding by the director of
21 the budget in consultation with the
director of the legislative research
22 department that the total of the
unencumbered balance and estimated
23 receipts to be credited to the state
economic development initiatives fund
24 during a fiscal year are insufficient to
fund the budgeted expenditures
25 and transfers from the state economic
development initiatives fund for
26 the fiscal year in accordance with the
provisions of appropriation acts, the
27 director of the budget shall make a
certification of such finding to the
28 governor. Upon approval by the governor,
the director of accounts and
29 reports shall transfer the amount of moneys
from the Kansas economic
30 opportunity initiatives fund to the state
economic development initiatives
31 fund that is required, in accordance with a
certification by the director
32 of the budget under this subsection, to
fund the budgeted expenditures
33 and transfers from the state economic
development initiatives fund for
34 the fiscal year in accordance with the
provisions of appropriation acts, as
35 specified by the director of the budget
pursuant to such certification.
36 (f) On or before
the 10th day of each month, the director of accounts
37 and reports shall transfer from the state
general fund to the state eco-
38 nomic development initiatives fund interest
earnings based on:
39 (1) The average
daily balance of moneys in the Kansas economic op-
40 portunity initiatives fund for the
preceding month; and
41 (2) the net
earnings rate for the pooled money investment portfolio
42 for the preceding month.
43 (g) A five member
panel consisting of the secretary of commerce and
3
1 housing, the president of Kansas,
Inc., the president of the Kansas tech-
2 nology enterprise corporation, the
private sector chairperson of the board
3 of Kansas, Inc. and the private
sector chairperson of the Kansas technol-
4 ogy enterprise corporation shall
review annually the propriety of projects
5 funded under this section. The panel
shall report its findings in writing
6 to the governor,
the chair of the economic
development committee of the
7 house of representatives
and the chair of,
the senate commerce committee
8 and the joint committee on
economic development.
9 [(h) For purposes of
this act, ``national event'' means an activity
10 or occurrence which is held not more
than once per year at any
11 location in the United States; is
televised nationally for a period of
12 more than one hour; is estimated to
generate at least $100,000 in
13 state sales tax revenue; and is
planned at least one year in advance.]
14 Sec. 2. K.S.A. 1999 Supp.
74-50,151 is hereby repealed.
15 Sec. 3. This act shall
take effect and be in force from and after its
16 publication in the statute book.