Purpose of the Bill

The bill aims to support economic development by providing financial assistance to the city of Northrop. This assistance is specifically for addressing costs related to an elevator explosion and fire that occurred in late December 2017.

Main Provisions

• Grant Allocation: The bill proposes an appropriation of $230,000 from the general fund in fiscal year 2026 to the commissioner of employment and economic development. This amount is designated as a grant to the city of Northrop.
• Usage of Funds: The grant is intended to cover expenses incurred from the elevator explosion and fire in the city.
• Reporting Requirements: The commissioner is required to submit a report about the utilization of the grant funds. This report must be presented to the relevant legislative committee chairs and ranking minority members involved in workforce development.
• Information Obligation: The city of Northrop must provide all necessary information to the commissioner to facilitate the completion of the report.

Significant Changes to Existing Law

This bill appropriates funds specifically for this incident, which implies a potential increase in the fiscal budget allocation for economic recovery and development projects related to unforeseen events or disasters.

Relevant Terms

• Economic development
• Appropriation
• Grant
• Elevator explosion
• Fire
• Fiscal year 2026
• General fund
• Commissioner of employment and economic development
• Legislative report requirements