122:22-1-06 Fees.

(A) Each applicant shall submit with its application for a credit allocation an application fee in an amount established annually by the director in a schedule of new market tax credit program fees. An application will not be considered by the director unless the application fee is paid. Application fees are non-refundable even if an application is withdrawn or incomplete.

(B) Each state allocatee shall pay a servicing fee in an amount established annually by the director in a schedule of new market tax credit program fees. The servicing fee will be payable in full upon execution and delivery of the allocation agreement. No allocation agreement shall be effective unless the servicing fee has been paid.

(C) A request for a determination described in paragraph (D) of rule 122:22-1-03 of the Administrative Code shall be subject to payment of a non-refundable processing fee in an amount established annually by the director in a schedule of new market tax credit program fees. Such a determination will not be issued by the director unless the processing fee is paid.

(D) The director shall establish the schedule of new market tax credit program fees for each fiscal year. The schedule of new market tax credit program fees shall be published by the director on the department of development website.

Effective: 11/29/2010
R.C. 119.032 review dates: 11/29/2015
Promulgated Under: 119.03
Statutory Authority: 5725.33
Rule Amplifies: 5725.33 , 5729.16 , 5733.58