122:16-1-03 Eligibility Requirements.

(A) To be considered for the tax credit under section 122.171 of the Revised Code, a taxpayer shall submit to the director a complete tax credit application as made available by the department of development, with such tax credit application including, but not limited to, certification that the taxpayer employed an average of at least one thousand employees in full-time employee positions at the project location for which the tax credit would apply during each of the twelve months preceding the postmarked date of the tax credit application.

(B) Except as otherwise provided in this rule, the authority may grant a tax credit pursuant to section 122.171 of the Revised Code if the authority determines the taxpayer satisfies the requirements of division (A) of this rule and the taxpayer’s proposed project demonstrates all of the following:

(1) The project satisfies the requirements set forth in division (A) and (D) of section 122.171 of the Revised Code;

(2) The project will retain the number of full-time employment positions set forth in the tax credit agreement for the term of the tax credit. For purposes of counting full-time employment positions under the tax credit agreement, positions counted towards the committed number of retained positions set forth in the agreement may be the same or different in whole or in part as the full-time employment positions counted under division (A) of this rule;

(3) The project is the primary beneficiary of direct financial support from a local political subdivision, a county, or a nonprofit economic development agency.

(C) The authority may from time to time set additional eligibility requirements for the projects of taxpayers to receive tax credits under section 122.171 of the Revised Code.

HISTORY: Eff 12/11/2003

Rule promulgated under: RC 119.03

Rule authorized by: RC 122.171(K)

Rule amplifies: RC 122.171

RC 119.032 Review Dates: 12/11/2008