Compilation of Rules and Regulations of the State of Georgia
Department 110 - RULES OF GEORGIA DEPARTMENT OF COMMUNITY AFFAIRS
Chapter 110-35 - GEORGIA AGRIBUSINESS AND RURAL JOBS ACT PROGRAM
Subject 110-35-1 - GEORGIA AGRIBUSINESS AND RURAL JOBS ACT
Rule 110-35-1-.12 - Prohibitions
Universal Citation: GA Rules and Regs r 110-35-1-.12
Current through Rules and Regulations filed through September 23, 2024
(1) No allocatee shall receive distributions, directly or indirectly from distribution or payments made by the rural fund, in excess of an amount that would result in an internal rate of return on capital invested that is more than 20 percent if the number of jobs created is:
(a) Less than 60 percent of the projected jobs in the rural fund's approved business plan, then the state shall receive a penalty of 10 percent of the total tax credits distributed to the rural fund; or
(b) Greater than 60 percent but less than 80 percent of the projected jobs in the rural fund's approved business plan, then the state shall receive a penalty of 5 percent of the total tax credits distributed to the rural fund.
O.C.G.A. § 33-1-25.
Disclaimer: These regulations may not be the most recent version. Georgia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
