90-1-116. State matching funds program for economic development -- distribution of proceeds -- criteria for grants -- local economic development matching funds. (1) As used in this section, the following definitions apply:
     (a) "Certified community lead organization" means the entity that has been endorsed by resolution of a local governing body or a tribal government, as defined in 90-6-701(3)(e), and that meets and maintains requirements for certification established by the department.
     (b) "Department" means the department of commerce provided for in 2-15-1801.
     (2) The department shall create a program to provide state funds to match local economic development funds and to fund the certified communities program. The provision of state matching funds is contingent upon specific appropriations to the department for that purpose. The department shall distribute the funds in the following manner:
     (a) 91% to certified community lead organizations, in the form of assistance grants;
     (b) 8% to the department for administration of the certified communities program; and
     (c) 1% to the department for certification assistance for noncertified communities. If there are no requests for certification assistance, the 1% allocation may be used by the department for administration of the certified communities program.
     (3) An assistance grant to a certified community lead organization is based on an annual per capita payment for the area served by the organization, according to its population in the last completed federal census. The grant may not exceed $75,000 and may not be less than $3,000 a year.
     (4) To be eligible to receive a grant, a certified community lead organization:
     (a) must be designated as the lead organization by the local governing body;
     (b) shall maintain department requirements for certification;
     (c) shall match each $1 of the grant with $1 raised from public or private sources; and
     (d) shall participate in regional meetings of certified communities.
     (5) Grants under this section must be used to conduct economic development programs consistent with strategic plans that are adopted by the certified communities and that are filed with the department.
     (6) The department shall use its portion of the proceeds to:
     (a) administer the certified communities program;
     (b) assist noncertified communities in seeking certification; and
     (c) organize and conduct regional meetings of certified communities.

     History: En. Sec. 1, Ch. 531, L. 1993; amd. Sec. 1, Ch. 268, L. 1999.