CORP LOCATION EFFICIENCY ACT

Creates the Corporation Location Efficiency Act. Requires that an applicant applying for State economic development assistance for a business location provide data on affordable housing and mass transit in its vicinity. Provides that if data submitted by the applicant shows that affordable housing and mass transit are near the proposed work site, the Department of Commerce and Economic Opportunity shall grant the applicant a preference in awarding economic development assistance. Provides that if affordable housing and mass transit are not present near the proposed work site, the applicant can receive a preference only if it submits to the Department of Commerce and Economic Opportunity a plan showing how the applicant will address the housing and mass transit deficiency. Provides that applicants who fail to submit a satisfactory plan to the Department of Commerce and Economic Opportunity may still receive State economic development assistance, but the Department must make public its reasons for exemption. Effective January 1, 2005.