Sec. 3. Units that wish to establish a development authority under this chapter must prepare and adopt a preliminary strategic economic development plan that includes provisions and general information concerning the following:

(1) The participating members of the development authority.

(2) The membership of the strategy committee under section 5 of this chapter.

(3) A timeline for submitting the comprehensive development plan under section 4 of this chapter.

(4) A strategy for attracting (or any projected) investments, grants, matching funds, or local tax revenue.

As added by P.L.83-2020, SEC.2.