(Doc Name h:\legwork\house\amend\h-wm\001\118.17 bus incub.docx):
EXPLANATION: move business incubation proviso from dept of commerce to non-recurring proviso to follow funding
Amend the bill, as and if amended, Part IB, Section 118,
STATEWIDE REVENUE, page 523, Paragraph 118.17, after line 3, by
adding an appropriately numbered item to read:
/ ( ) The $5,000,000 appropriated above to the Department of Commerce for the business Incubator Program shall be used to invest in technology-based economic development projects. The department shall develop guidelines to administer the program and any investment made by the department shall be accompanied by, at a minimum, an equal match of non-state funds. Eligible projects should foster economic development, encourage technological innovation and business recruitment, leverage the state scientific potential and existing knowledge base, or encourage research and development collaboration. $400,000 shall be designated for the digital design initiative. Up to $300,000 may be used by the department for administrative costs associated with this program./
Renumber sections to conform.
Amend totals and titles to conform.