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DIGEST OF INTRODUCED BILL
Financing development in distressed counties. Authorizes the use of state tax revenue, exceeding a base allocation amount, to be used for payments of bonds issued, loans entered into, or leases entered into for an industrial development project in a distressed area. Provides that the same definition of distressed area be used for programs involving industrial development projects and the growth investment program fund. Appropriates the collected tax revenue to this use.