Ohio Admin. Code 122:29-1-07 - Rescission of tax credit certification
(A)
If the owner does
not timely provide the start of construction report as required by paragraph
(A) of rule 122:29-1-06 of the Administrative Code, the authority will provide
notice to the owner of such failure and the authority is to rescind
certification of the project at its next schedule meeting.
(B)
In addition to
paragraph (A) of this rule, the tax credit authority may rescind the tax credit
certification if:
(1)
The owner fails to timely provide a construction
progress report and does not cure such failure within thirty days of written
notice from the director;
(2)
The authority reasonably determines, based on the
construction progress report and recommendation from the director, that the
project has failed to make sufficient progress towards completion in
consideration of the schedule provided by the owner;
(3)
The authority
reasonably determines that the owner has abandoned the project of the owner
informs the authority it has abandoned the project; or
(4)
The owner or
applicant is found by the authority to have provided false information to the
director, the authority or any other entity of the state of Ohio in any way
connected to the approval and certification of the project or determination of
any amount of tax credit to the owner or applicant under Chapter 122. of the
Revised Code.
Notes
Promulgated Under: 119.03
Statutory Authority: 122.09(O)
Rule Amplifies: 122.09
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