This section is repealed January 1, 2007.

Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.

SUMMARY

The bill creates the Economic Development Zone Program within the Department of Economic and Community Development, Office of Tourism and Community Development. The purpose of the program is to identify those areas of the State with high unemployment as economic development zones and to coordinate the department's economic development expenditures to ensure that at least 45% of the department's economic development expenditures are directed to those economic development zones and used for economic development activities that reduce unemployment in those areas.

The bill requires the Commissioner of Economic and Community Development to provisionally adopt major substantive rules implementing the program and submit them to the Legislature for review no later than January 1, 2004.

The bill also repeals this program January 1, 2007.