348.308. Duties of director of economic development--issuance of certificates.
Duties of director of economic development--issuance of certificates.
348.308. 1. The director of the department of economicdevelopment shall be responsible for the administration andissuance of the certificate of tax credits authorized by sections348.300 to 348.318*. The director of the department of economicdevelopment shall issue a certificate of tax credit at therequest of any qualified economic development organization. Eachrequest shall include a true copy of the documents creating thequalified fund and the interest of the qualified economicdevelopment organization in the qualified fund, the name of theperson who is to receive a certificate of tax credit, the type ofstate tax liability, as specified in subdivision (10) of section348.300, against which the tax credit is to be used, and theamount of the certificate of tax credit to be issued to theperson making the qualified contribution. Each request shall beacknowledged under oath by the person making the qualifiedcontribution and the president of the qualified economicdevelopment organization.
2. In the event that two or more qualified economicdevelopment organizations have an interest in a qualified fund,either or both of such qualified economic developmentorganizations may request issuance of certificates of tax creditin accordance with the provisions of sections 348.300 to 348.318*to persons contributing to qualified funds.
(L. 1986 S.B. 591 § 5)Effective 5-30-86
*Words "this act" appear in original rolls. S.B. 591 (1986) also contains §§ 100.310 and 100.390.