Economic development incentives; procedures for certain acts, economic development authorities.

Procedures for certain acts; economic development incentives; economic development authorities. Requires that a proposed ordinance or resolution related to certain economic development incentives comply with the notice and public hearing requirements specified in the bill prior to approval by the governing body. The bill provides that the notice and public hearing requirements also apply to any such economic development incentives to be offered pursuant to an agreement between a locality and an economic development authority or industrial development authority.