§544i Economic Development

Summary

Each State must make a plan for economic development projects using the Economic Opportunity Study and other relevant information, and must consult with counties and the Commission. After the State’s management plan is certified and the plan is submitted, the Secretary will give $5,000,000 to each State to make grants and loans that advance the goals of sections 544 to 544p. States must require that funded activities be certified by the Commission as consistent with those goals, the management plan, and local land use rules. Funds may not be used to move a business from one community to another or to pay program administration. Funds may be used only in counties whose land use ordinances the Commission and Secretary have found acceptable under section 544f. Each State must send an annual report to the Secretary, provide financial records to the Secretary and the Commission on request, and reuse money from repaid loans for new grants and loans.