AGENDA

ECONOMIC DEVELOPMENT AND WORKFORCE SERVICES

INTERIM COMMITTEE

UTAH LEGISLATURE

Wednesday, June 15, 2016 • 8:30 a.m. • Room 20 House Building

1. Committee Business

· Call to order

· Approval of the minutes of the May 18, 2016, meeting

2. Overview of Utah Economic Development Incentive Programs

The committee will hear a summary of economic development incentive programs offered or administered by the Governor's Office of Economic Development (GOED) and other state agencies.

· Ryan M. Hunter, Policy Analyst, Office of Legislative Research and General Counsel

· Peter Asplund, Associate General Counsel, Office of Legislative Research and General Counsel

· Committee discussion/action

3. Deep-Dive: Permanent Community Impact Fund (CIB)

The committee will hear an overview of the program's goals, funding sources, financial outlays, application approval process, reporting requirements, and assessment metrics.

· Utah Permanent Community Impact Fund Board

· Committee discussion/action

4. Deep-Dive: Economic Development Tax Increment Financing (EDTIF)

The committee will hear an overview of the program's goals, funding sources, financial outlays, application approval process, reporting requirements, and assessment metrics.

· Governor's Office of Economic Development

· Committee discussion/action

5. Deep-Dive: Industrial Assistance Fund (IAF)

The committee will hear an overview of the program's goals, funding sources, financial outlays, application approval process, reporting requirements, and assessment metrics.

· Governor's Office of Economic Development

· Committee discussion/action

6. Overview of Economic Development Incentives Nationwide

The committee will hear an overview of the arguments for and against economic development incentives, how incentives are used nationwide, and some proposed best practices.

· Ryan M. Hunter, Policy Analyst, Office of Legislative Research and General Counsel

· Committee discussion/action

7. Tax Incentive Review

The committee will hear an overview of the Office of the Legislative Fiscal Analyst's planned tax incentive review.

· Utah Office of the Legislative Fiscal Analyst

· Committee discussion/action

8. Other Committee Business/Adjourn