New Hampshire Revised Statutes 12-O:21 – New Hampshire Economic Development Fund
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I. There is hereby established the New Hampshire economic development fund which shall be administered by the commissioner of the department of business and economic affairs. Said fund shall be for the purpose of providing funds for grants, loans and other economic development initiatives which shall be generally considered to be beneficial to the state‘s overall economy as provided for in paragraph II.
II. Said fund shall be distributed or expended by the commissioner with prior approval of the fiscal committee of general court and the governor and council for any of the following purposes:
(a) Business financing and expansion initiatives.
(b) Workforce recruitment retention and creation.
(c) International trade.
(d) Research and development activities.
(e) Other projects or programs recognized as being beneficial to business activity in New Hampshire.
III. To maximize the economic impact of expenditures from this fund, and to leverage additional funding from other sources, the commissioner may contract with such organizations as, but not limited to, the following:
(a) Chambers of commerce.
(b) Regional economic development or planning organizations.
(c) Innovation Research Center.
(d) Small Business Development Center.
IV. All moneys appropriated to the fund as well as moneys returned to the department as a result of contracts between the commissioner and any other party as authorized shall be redeposited into the New Hampshire economic development fund. In addition, the department may accept gifts, grants, donations or other moneys for the purposes of this section. Said moneys shall be deposited into the New Hampshire economic development fund.
II. Said fund shall be distributed or expended by the commissioner with prior approval of the fiscal committee of general court and the governor and council for any of the following purposes:
Terms Used In New Hampshire Revised Statutes 12-O:21
- Chambers: A judge's office.
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- governor and council: shall mean the governor with the advice and consent of the council. See New Hampshire Revised Statutes 21:31-a
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(a) Business financing and expansion initiatives.
(b) Workforce recruitment retention and creation.
(c) International trade.
(d) Research and development activities.
(e) Other projects or programs recognized as being beneficial to business activity in New Hampshire.
III. To maximize the economic impact of expenditures from this fund, and to leverage additional funding from other sources, the commissioner may contract with such organizations as, but not limited to, the following:
(a) Chambers of commerce.
(b) Regional economic development or planning organizations.
(c) Innovation Research Center.
(d) Small Business Development Center.
IV. All moneys appropriated to the fund as well as moneys returned to the department as a result of contracts between the commissioner and any other party as authorized shall be redeposited into the New Hampshire economic development fund. In addition, the department may accept gifts, grants, donations or other moneys for the purposes of this section. Said moneys shall be deposited into the New Hampshire economic development fund.