DEFINITION[]
An Act to stimulate regional development in high poverty and unemployment areas.
Regional Development Act 576AER[]
Be it enacted by the Emperor's most Excellent Majesty, Vinther III, by and with the advice and consent of the Chamber of Deputies and the Imperial Senate, in this present Parliament assembled, and by the authority of the same, as follows:--
SECTION 1: Area definition[]
(1) The Department of Economic Affairs shall be given the power of defining in consultation with state and local administrations three categories of development areas, from highest in need to lowest being:
- (A) Special Development Areas
- (B) Development Areas
- (C) Intermediate Areas
(2) The higher the need for regional development the more benefits shall be granted to firms wishing to expand there.
(3) Regional Development Boards are to be established in every state between federal and state/overseas officials to oversee the needs of the specific states.
SECTION 2: Powers[]
Every Regional Development Board shall be given the following powers:
(1) Produce a report on the specific needs of the designated development areas and the necessary funds to be allocated from the federal budget to the budgets of the devolved administrations.
(2) The Regional Development Boards in cooperation with state administrations can allocate funds for grants to be given to firms on an individual case basis.
(3) The Regional Development Boards can more freely grant industrial licenses for regional development in designated areas granted they abide to the following:
- (A) Uphold Falleen product and service regulations and standards.
- (B) Uphold Falleen worker's rights.
- (C) Recruit employers from the designated area.
- (D) Uphold Falleen environmental regulations and standards.
(4) RDB grants and privileges do not overlap with other tax incentives or business privileges and thus are applicable to any firm regardless of their current rights to federal assistance (i.e. Buy Falleen, Hire Falleen Act 575AER).
(5) RDB's may grant in cooperation with the devolved administrations tax incentives that donot exceed 1.5% of the individual firm/factory/establishments gross production.
(6) RDB's may allocate funds in cooperation with the devolved administrations to either the local council or enterprise towards job training grants in the designated areas for the training of new employees or the re-training of existing ones.
(7) RDB'sin cooperation with DA's may give low interest or forgivable loans made available to private enterprises financing capital investment in development areas.
(8) RDB's in cooperation with DA's may make local property transfers to private enterprises at below market or nominal consideration.
(9) The RDB's must publish half-yearly public reports to the state administrations and the federal government for purposes of scrutiny and transparency. This will be accompanied by an inspection by a federal agent from the DoEA.
(10) Any demonstrable cases of corruption or unfair use of these powers by the RDB's may be revoked partially or entirely by the Department of Economic Affairs with consent of parliament.