Local impact assistance payments.

HB 47 creates a system for counties, cities, and towns near new industrial facilities to receive impact assistance payments. The Industrial Siting Council determines payments based on the facility's estimated material costs, with caps of up to 2.76% (lower rates apply for smaller projects under $350 million). Payments stop after 12 months of no construction activity and require counties to maintain specific tax rates (1% property tax or 2% combined sales/use tax). The council distributes funds to affected local governments using a ratio based on unmitigated impacts and community needs.