Ga. Comp. R. & Regs. R. 110-35-1-.12 - Prohibitions
(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.
Notes
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