6-59-104 - Application to receive allocations of sales and use tax revenue. [Effective until June 30, 2015. See the Compiler's Notes.] 

6-59-104. Application to receive allocations of sales and use tax revenue. [Effective until June 30, 2015. See the Compiler's Notes.]

(a)  To be entitled to receive the allocations of state and local sales and use tax revenue as provided in this chapter, a municipality must first file with the department of finance and administration an application seeking approval and certification of the proposed courthouse square revitalization zone. The department shall review the application to confirm that the courthouse square revitalization zone meets the size and form requirements of this chapter. A revitalization zone may embrace two (2) or more separate parcels of real property, and such property may be publicly or privately owned. Each revitalization zone shall be of such size and form as to include all properties that, in the judgment of the municipality and the department of finance and administration, constitute an integral part of the courthouse square. If the department determines that the boundaries of the proposed courthouse square revitalization zone exceed the area that is reasonably deemed to be integral to the courthouse square, the department may adjust or reduce the boundaries of the proposed area. In reviewing the application, the department of finance and administration shall consult with the department of revenue and the department of economic and community development.

(b)  The application shall include, but not be limited to, the following information:

     (1)  The name of the proposed courthouse square revitalization zone, which shall include the name of the municipality in which the revitalization zone is to be located, together with the words, “courthouse square revitalization zone”;

     (2)  A description of the revitalization zone by metes and bounds;

     (3)  A map showing the parcels of real property included in the revitalization zone and the present use of such parcels; and

     (4)  Such other information as may be reasonably requested by the department of finance and administration.

(c)  The department of finance and administration shall set an application deadline.

(d)  Upon expiration of the application deadline, the commissioner of finance and administration, in consultation with the commissioner of revenue and the comptroller of the treasury, shall review and evaluate all completed applications and select one (1) project from each grand division of the state.

(e)  Notwithstanding any provision of subsection (d) or § 6-59-105 to the contrary, six (6) projects may be selected for the courthouse square revitalization pilot project; provided that no more than two (2) projects may be selected from each grand division.

[Acts 2005, ch. 448, § 5; 2006, ch. 1019, § 55.]