19-100-400 Me. Code R. § 3

Current through 2024-44, October 30, 2024

Section 100-400-3 - DEPARTMENT REVIEW

Applications for an employment tax increment financing certificate of approval will be reviewed by the Commissioner, subject to the following provisions:

A. Completed applications will be reviewed in the order in which they are received;

B. Completed applications must contain current information as of the submission date;

C. Prior to issuing a Certificate of Approval, the Commissioner must determine that:

1. The application is complete;

2. The program will make a contribution to the economic well-being of the State;

3. The economic development described in the program will not result in a substantial detriment to existing businesses in the State; and

4. The qualified economic development project will not go forward without Employment Tax Increment Financing.

5. The application otherwise conforms to this rule and the Act.

In order to make this determination the Commissioner shall consider, pursuant to 5 M.R.S.A., chapter 375, subchapter II, those factors determined to be necessary to measure and evaluate the effect of the proposed employment tax increment program, including whether any adverse economic effect of the proposed program on existing businesses is outweighed by the program's contribution to the economic well-being of the State. The Department will complete its review of completed applications in a timely manner and issue a Letter of Approval to the applicant detailing the percentage reimbursement and term of the program. Unsuccessful applicants will receive written explanation of the reason for denial and may appeal the decision within 10 days of receiving the rejection letter.

19-100 C.M.R. ch. 400, § 3