1-16G-57. Reinvestment payment procedure.

If the projects costs for a new or expanded facility exceeds twenty million dollars or the projects costs for equipment upgrades exceeds two million dollars, a person may apply for a reinvestment payment pursuant to §§ 1-16G-56 to 1-16G-68, inclusive. The person shall:

(1)    Timely file an application as required by § 1-16G-58;

(2)    Receive a permit from GOED pursuant to § 1-16G-60;

(3)    Timely file the affidavit of reinvestment payment as required by § 1-16G-61; and

(4)    Comply with the provisions of §§ 1-16G-56 to 1-16G-68, inclusive, to qualify for the reinvestment payment.

A project with a construction date on or after April 1, 2013, may receive a reinvestment payment as provided by §§ 1-16G-56 to 1-16G-68, inclusive.

Source: SL 2013, ch 7, § 25, eff. Mar. 20, 2013.