1. (a) The director shall announce the application period or periods for the California competes tax credit prior to each new fiscal year on the website.

2. (b) The announcement shall state:

   1. (1) The application period(s);
   2. (2) The deadline to submit applications for each application period;
   3. (3) The dates when the committee will hold meetings to approve or reject agreements; and
   4. (4) The tax credits available during each application period.
3. (c) The director may re-schedule or amend any previously announced application period, deadline to submit applications, and the total tax credits available during each application period by providing notice on the website, and may re-schedule, relocate, or amend any previously announced committee meeting so long as the information is posted on the website at least ten days before the scheduled meeting.
4. (d) Any credits not awarded during the application period shall carry over to the next application period or later application period as specified in the announcement.

Note: Authority cited: Sections 17059.2 and 23689, Revenue and Taxation Code. Reference: Sections 17059.2, 18410.2 and 23689, Revenue and Taxation Code.

History

1. New section filed 2-20-2014 as an emergency; operative 2-20-2014 (Register 2014, No. 8). A Certificate of Compliance must be transmitted to OAL by 8-19-2014 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 8-18-2014 as an emergency, including amendment of subsections (a) and (d); operative 8-18-2014 (Register 2014, No. 34). A Certificate of Compliance must be transmitted to OAL by 11-17-2014 or emergency language will be repealed by operation of law on the following day.

3. New section refiled 11-17-2014 as an emergency; operative 11-17-2014 (Register 2014, No. 47). A Certificate of Compliance must be transmitted to OAL by 2-16-2015 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 11-17-2014 order transmitted to OAL 12-31-2014 and filed 2-5-2015 (Register 2015, No. 6).