Public employees and officers: other; elected officials signing certain nondisclosure agreements; restrict. Creates new act.

SB 490, the "Economic Development Transparency Act," prohibits public officers (including elected officials and appointed leaders of state or local governments) from signing nondisclosure agreements (NDAs) related to economic development projects funded by public money. The bill specifically bans NDAs covering details like job creation numbers, investment amounts, project locations, site selection criteria, or the identity of project proponents. Any such NDA entered into after the law's effective date is void and unenforceable. This directly affects government officials negotiating economic development incentives like tax abatements or grants, ensuring transparency about public funds used for these projects.