Rule 110-34-1-.04. Threshold Criteria for Boundaries and Designations
Rule 110-34-1-.04. Threshold Criteria for Boundaries and Designations
- (1) Eligible applicants must have an existing historic commercial area.
- (2) The boundaries of the proposed Rural Zone should take into consideration the economic distress criteria and should be contiguous parcels.
- (3) The Commissioners for the Department of Community Affairs and the Department of Economic Development are authorized to designate a specified area as a Rural Zone, enabling new and established businesses and new business investments in the zone to qualify for Rural Zone tax credits.
- (4) The Commissioners for the Department of Community Affairs and the Department of Economic Development may designate up to ten Rural Zones in any given year; provided, however, there shall not be more than 50 Rural Zones in existence at the same time. This designation shall last for five consecutive years upon approval of the Commissioners.
Authority: O.C.G.A. § 48-7-40.32.
History. Original Rule entitled "Threshold Criteria for Boundaries and Designations" adopted. F. August 23, 2017; eff. September 12, 2017, as specified by the Agency.