39-11-201. (Temporary) Grant review committee -- appointment -- powers and duties -- rulemaking authority. (1) There is a seven-member loan review committee, as follows:
     (a) two representatives from the private sector representing economic development, appointed by the governor;
     (b) two representatives from the business community, one appointed by the president of the senate and one appointed by the speaker of the house, one of whom serves on a local workforce investment board;
     (c) one representative from the governor's office, appointed by the governor;
     (d) one representative from the department of revenue, appointed by the governor; and
     (e) one representative from the department of labor and industry, appointed by the governor.
     (2) The committee shall award training grants to a primary sector business qualified under 39-11-202 after a determination that the primary sector business:
     (a) has prospects for achieving commercial success and for creating new jobs in the state;
     (b) has prospects for collaboration between the public and private sectors of the state's economy;
     (c) has potential for commercial success related to the specific product, process, or business development methodology proposed;
     (d) can provide matching funds; and
     (e) can be reasonably expected to provide an economic return within a reasonable period of time.
     (3) A committee member may not personally apply for or receive a primary sector business workforce training grant. If an organization with which a member is affiliated applies for a grant, the member shall disclose the nature of the affiliation and, if the committee member is a board member or officer of the organization, may not participate in the decision of the committee regarding the grant application.
     (4) The committee shall adopt rules to:
     (a) provide for grant application procedures;
     (b) develop procedures for awarding grants pursuant to the criteria provided in 39-11-202; and
     (c) develop independent review and audit procedures to ensure that grants made are used for the purposes identified in the grant contracts.
     (5) All decisions of the committee are final and are not subject to the contested case provisions of Title 2, chapter 4.
     (6) The committee is allocated to the office of economic development for administrative purposes only as provided in 2-15-121. (Terminates June 30, 2007--sec. 10, Ch. 567, L. 2003.)

     History: En. Sec. 4, Ch. 567, L. 2003.