Current through Register Vol. 18, September 20, 2024
(1) The department
has established the following distribution method, for nonadministrative
expenses, of the Big Sky Economic Development Trust Funds:
(a) 75% must be allocated for distribution to
local governments and tribal governments to be used for job creation projects;
and
(b) 25% must be distributed to
certified regional development corporations, tribal governments, and eligible
economic development organizations for economic development planning
activities.
(2) The
department has established the following eligible use of Big Sky Economic
Development Trust Funds:
(a) Awards to local
governments and tribal governments for job creation projects shall include, but
are not limited to:
(i) purchase of land,
building, or equipment for the direct use of the assisted business;
(ii) lease rate reduction for lease of
publicly or privately owned real property for the direct use of the assisted
business;
(iii) relocation costs
incurred in connection with moving the assisted business's physical assets to
Montana;
(iv) wages of employees in
net new jobs;
(v) employee
training; and
(vi)
administration.
(b)
Awards to certified regional development corporations, local governments,
tribal governments, and other eligible economic development organizations shall
include the following economic development planning activities:
(i) support for business improvement
districts and central business district redevelopment;
(ii) industrial development;
(iii) feasibility studies;
(iv) creation and maintenance of baseline
community profiles;
(v) matching
funds for federal funds; and
(vi)
administration.
(3) The maximum funding levels for job
creation projects are as follows:
(a) Local
governments and tribal governments may not exceed $5,000 for each eligible job
to be created by an eligible business, except that funding for a project in a
high-poverty county may not exceed $7,500 for each eligible job.
(b) The eligible jobs used as the basis for
determining the award amount shall be net new jobs to the business associated
with the project in Montana and shall not include jobs transferred from any
existing Montana operations of the business or any related entity.
(4) Entities must provide matching
funds for job creation projects as specified below:
(a) Local governments and tribal governments
shall provide equal matching funds for all job creation awards allocated under
the program, except that the department may allow a 50% to 100% match
requirement for projects located in a high-poverty county.
(b) Certified regional development
corporations, local governments, tribal governments, and other eligible
economic development organizations may be required to document or provide
matching funds for economic development planning awards allocated under the
program.
(5) The
department may require full or partial repayment of the award, if the assisted
business fails to create or maintain the number of net new eligible jobs as
specified in the executed contract.
AUTH:
90-1-204, MCA;IMP:
90-1-204,
MCA
