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§ 5480.8. Monitoring Process.

10 CA ADC § 5480.8Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 10. Investment
Chapter 7.72. Rural Investment Tax Exemption
10 CCR § 5480.8
§ 5480.8. Monitoring Process.
Currentness
(a) The CIEDB Board shall determine if Eligible Entities utilizing the Partial Exemption awarded by the CIEDB Board have met all of the following requirements:
(1) Submitted a Certification Letter documenting both the Investments made and 500 new Direct Jobs plus Supporting Jobs within one year of the Partial Exemption Use Date (unless extended pursuant to an approved Extension Request); and
(2) The Eligible Entity has attained and maintained the Investment, and 500 new Direct Jobs plus Supporting Jobs.
(b) If CIEDB staff determines that any Eligible Entity has not met the requirement in subsection (a) it will mail to the Eligible Entity an Intent of Revocation Letter
(c) Eligible Entities that receive an Intent of Revocation Letter shall be authorized to request an opportunity to be heard in front of the CIEDB Board to contest the Intent of Revocation Letter. Any such request must be made in writing to the CIEDB Board and postmarked not later than 15 calendar days following mailing of the Intent of Revocation Letter.
(d) The CIEDB Board shall agenda all Intent of Revocation Letters at the next regularly scheduled Board meeting, held on or after 30 days from the date of the mailing of an Intent of Revocation Letter. Upon adoption of the Intent of Revocation Letter, the CIEDB Board shall mail the Intent of Revocation Letter to the Board of Equalization and to the Eligible Entity within 7 calendar days of its adoption.

Credits

Note: Authority cited: Section 11152, Government Code; and Section 6378.1, Revenue and Taxation Code. Reference: Section 6378.1, Revenue and Taxation Code.
History
1. New section filed 8-15-2002; operative 9-14-2002 (Register 2002, No. 33).
This database is current through 4/19/24 Register 2024, No. 16.
Cal. Admin. Code tit. 10, § 5480.8, 10 CA ADC § 5480.8
End of Document