Lawriter - OAC - 122:21-1-03 Application fee.

122:21-1-03 Application fee.

(A) Upon certification by the director that the project proposed by the applicant is a tax credit-eligible production, the director shall issue the applicant an invoice for a non-refundable application fee in an amount equal to one-half per cent of the estimated value of the credit, as calculated in section four of the application, up to a maximum application fee of ten thousand dollars.

(B) The applicant shall pay the non-refundable fee within forty-five days of the invoice date.

(C) The applicant's failure to pay the application fee within the timeframe proscribed above shall result in rescission of the director's certification that the application is a tax credit-eligible production.

(D) An application fee is due and payable for each production certified by the director as a tax credit-eligible production and is not transferrable to any other or future application or production.

Prior History: (Five Year Review (FYR) Dates: 03/12/2015 and 03/12/2020
Promulgated Under: 119.03
Statutory Authority: 122.85(G)(1)
Rule Amplifies: 122.85, 5733.59, 5747.66
Prior Effective Dates: 4/5/10)