The state budget was passed out of Senate Finance last week and will be up before the full Senate; below is the Senate Finance version of the Alliance funding Proviso

SECTION 50 - P320-DEPARTMENT OF COMMERCE

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50.13.      (CMRC: Regional Economic Development Organizations)  The Department of Commerce shall utilize $5,000,000 appropriated in Fiscal Year 2015-16 2016-17 for Regional Economic Development Organizations to provide

          funds to the following economic development organizations and must be disbursed as follows:

         Click here to view table

     Each dollar of state funds must be matched with one dollar of private funds.  The organization receiving state funds must certify that the private funds are new dollars specifically designated for the purpose of matching state funds and

     have not been previously allocated or designated for economic development.  No funds appropriated in this proviso may be used for routine operating costs of the organization as defined by the Department of Commerce.

     The remaining $200,000 $140,000 shall be provided to counties as follows Beaufort County, provided they meet it meets the requirements established above:

          Click here to view table

     Upon receipt of the request for the funds and certification of the matching funds, the Department of Commerce shall disburse the funds to the requesting organization.

     Funds recipients shall provide an annual report by November first, to the Chairmen of the Senate Finance Committee and the House Ways and Means Committee and the Secretary of Commerce on the expenditure of the funds and on the

     outcome measures.  Any unexpended, unallocated, or undistributed funds appropriated in prior fiscal years for Regional Economic Development Organizations shall first be made available to Regional Economic Development Organizations

     and any remainder shall be transferred to the Rural Infrastructure Fund at the Department of Commerce.  If more than one alliance applies for the same funds, the funds will be distributed pro-rata.

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