Ga. Comp. R. & Regs. R. 110-34-1-.04 - Threshold Criteria for Boundaries and Designations

(1) Eligible applicants must have an existing historic commercial area.

(2) The boundaries of the proposed Rural Zone should take into consideration the economic distress criteria and should be contiguous parcels.

(3) The Commissioners for the Department of Community Affairs and the Department of Economic Development are authorized to designate a specified area as a Rural Zone, enabling new and established businesses and new business investments in the zone to qualify for Rural Zone tax credits.

(4) The Commissioners for the Department of Community Affairs and the Department of Economic Development may designate up to ten Rural Zones in any given year; provided, however, there shall not be more than 50 Rural Zones in existence at the same time. This designation shall last for five consecutive years upon approval of the Commissioners.

Notes

Ga. Comp. R. & Regs. R. 110-34-1-.04

O.C.G.A. § 48-7-40.32.

Original Rule entitled "Threshold Criteria for Boundaries and Designations" adopted. F. August 23, 2017; eff. September 12, 2017, as specified by the Agency.