Section 162-N:4 Economic Revitalization Zone Tax Credit Agreement.
I. The commissioner of resources and economic development shall enter into a written economic revitalization zone tax credit agreement with each taxpayer; such agreement to be certified by the commissioner of resources and economic development under this section. The agreement shall contain such provisions as the commissioner of resources and economic development determines to be in the public interest, which shall include, but not be limited to:
(a) Quality and quantity of jobs to be created.
(b) Duration of the taxpayer's commitments with respect to the economic revitalization zone.
(c) The amount of the taxpayer's investment in the project.
(d) A precise definition of the location of the facility eligible for the credit.
(e) The maximum amount of the economic revitalization zone tax credit that will be allowed to the business under this agreement for jobs created and for construction or reconstruction expenses.
II. A certified copy of each agreement signed by the commissioner of resources and economic development and the taxpayer shall be provided to the commissioner of revenue administration.
Source. 2003, 301:2, eff. July 1, 2003. 2007, 263:120, eff. July 1, 2007; 263:123, I, eff. July 1, 2011.