This act shall apply to contracts made by a public trust operating pursuant to the Local Industrial Development Act or the Local Development Act except where the public improvements, buildings, or repairs are being made or constructed as a part of an agreement to provide development financing assistance, and where the cost of such public improvements does not exceed twenty-five percent (25%) of the total amount of the estimated public and private investment being made within the related increment district.

Added by Laws 1974, HB 1665, c. 298, § 27, emerg. eff. August 1, 1974; Amended by Laws 2006, SB 558, c. 271, § 25, emerg. eff. July 1, 2006 (superseded document available).