Ga. Comp. R. & Regs. R. 110-35-1-.07 - Qualified Investments & Eligible Businesses

(1) Qualified investments include loans or equity investments that meet the threshold requirements set forth as qualified investments.

(2) The Department shall produce a list, available to rural funds and placed on the Department's website, identifying business classifications that shall be considered eligible businesses. The NAICS code of the business entity in which a qualified investment is proposed to be made shall be used to determine the eligibility of such businesses under the Georgia Agribusiness and Rural Jobs Act program.

(3) The rural fund may make a request of the Department, on a case-by-case basis, to determine eligibility of a business and whether the business is engaged in agribusiness. The Department shall permit or deny eligibility within 20 days of receiving the request for consideration on forms promulgated by the Department. If the rural fund has not received notification from the Department of its determination within 20 days of receiving the request for consideration, the business in which the rural fund proposes to invest shall be considered an eligible business.

(4) All qualified investments shall be documented by the rural fund by completion of a certification form as promulgated by the Department, that includes all transactional documents, and verification of the investment of said funds through bank statements or other financial institution documents.

Notes

Ga. Comp. R. & Regs. R. 110-35-1-.07

O.C.G.A. § 33-1-25.

Original Rule entitled "Qualified Investments & Eligible Businesses" adopted. F. Feb. 16, 2018; eff. Mar. 9, 2018, as specified by Agency.