Ga. Comp. R. & Regs. R. 110-35-1-.09 - Reporting requirements
(1) Rural funds shall submit a report to the
Department within the first 15 business days after the second anniversary of
the initial credit allowance date. This report shall include documentation as
to the investment of 100 percent of the investments made under the Georgia
Agribusiness and Rural Jobs Act. Such report shall include:
(a) The county of each eligible business
receiving a qualified investment;
(b) Bank statements of such rural fund
evidencing each qualified investment;
(c) Certification form promulgated by the
Department verifying receipt of each qualified investment by the eligible
recipient business;
(d) If
requested of the Department, a copy of the written opinion of the Department
that such business was an eligible business at the time of such qualified
investment, or evidence that the Department failed to respond to a request for
eligibility within 20 days of such request (as evidenced by a signed
certification of the fund manager of such request and the Department's failure
to respond), as applicable;
(e) The
number of jobs created as a result of each qualified investment;
(f) The number of jobs retained as a result
of each qualified investment;
(g)
The average annual salary of jobs created as a result of each qualified
investment;
(h) The average annual
salary of jobs retained as a result of each qualified investment;
(i) The median salary of jobs created as a
result of each qualified investment;
(j) The median salary of jobs retained as a
result of each qualified investment;
(k) The salary range of jobs created as a
result of each qualified investment;
(l) The salary range of jobs retained as a
result of each qualified investment;
(m) Documentation of all distributions during
the rural fund's first two years related to the reasonable costs and expenses
of forming, syndicating, managing, and operating the rural investor or the
rural fund. Such distributions may include reasonable and necessary fees paid
for professional services, including legal and accounting services, related to
the formation and operation of the rural fund and an annual management fee that
shall not exceed 2 percent of the rural fund's qualified capital investment
authority; and
(n) Any additional
information requested by the Department.
(2) Thereafter, rural funds shall submit an
annual report to the Department within 45 days of the beginning of each
calendar year during the compliance period. The report shall include, but is
not limited to:
(a) All elements contained in
the rural fund's initial report;
(b) Documentation of all subsequent
investments made by the rural fund; and
(c) Documentation of all distributions
related to the formation, oversight, and management of the rural
fund.
Notes
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