Code of Massachusetts Regulations
402 CMR - ECONOMIC ASSISTANCE COORDINATING COUNCIL
Title 402 CMR 2.00 - Economic Development Incentive Program
Section 2.01 - Purpose

Universal Citation: 402 MA Code of Regs 402.2
Current through Register 1531, September 27, 2024

The purpose of 402 CMR 2.00 is to establish the procedures by which the Economic Assistance Coordinating Council (EACC) will administer those portions of the Economic Development Incentive Program (EDIP) relating to the certification of projects to be undertaken by businesses thereby entitling those businesses to receive certain tax benefits. 402 CMR 2.00 also establishes the procedures by which project certifications, Tax Increment Financing (TIF) and Special Tax Assessment (STA) agreements, and Economic Target Area (ETA) and Economic Opportunity Area (EOA) designations may be established, approved or revoked by the EACC. 402 CMR 2.00 also further clarifies that the failure of a municipality or participating business to follow proper reporting procedures and to provide requested information to the EACC may result in such revocation.

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