Mass. Gen. Laws ch. 23A, § 3D – Awarding of tax credits available pursuant to Sec. 6 of chapter 62 or Sec. 38N of chapter 63; refundable tax credits; limitations; execution of EDIP contract; finality of EACC decisions

(a) The EACC may award to the controlling business of a certified project or to its affiliate tax credits available pursuant to subsection (g) of section 6 of chapter 62 or pursuant to section 38N of chapter 63. The amount of any such credits awarded, the schedule on which those credits may be claimed and the extent to which the credits are refundable shall be determined by the EACC based on:
(i) the degree to which the certified project is expected to increase employment opportunities for residents of the commonwealth, with consideration given to the number of new full-time jobs to be created, the number of full-time jobs to be retained, the salary or other compensation that will be paid to the employees and the amount of new state income tax to be generated;
(ii) the timeframe within which new jobs will be created and the commitment of the controlling business for how long they will be maintained, with preference given to certified projects in which a significant portion of the new jobs shall be created within 2 years;
(iii) the amount of capital to be invested by the controlling business in the certified project;
(iv) the degree to which the certified project is expected to generate net new economic activity within the commonwealth by generating substantial sales from outside of the commonwealth;
(v) the extent to which the certified project is expected to contribute to the economic revitalization of a gateway municipality or increase employment opportunities to residents of a gateway municipality;
(vi) the economic need of the municipality or region in which the certified project is to be located as determined by income levels, employment levels or educational attainment levels;
(vii) commitments, if any, made by the controlling business to use Massachusetts firms, suppliers and vendors or to retain women or minority-owned businesses during the construction of the certified project; and (viii) the commitments, if any, set forth in a municipal project endorsement.
The EACC shall have discretion as to how to weigh and apply these criteria. When making an award of tax credits pursuant to subsection (g) of section 6 of chapter 62 or pursuant to section 38N of chapter 63, the EACC may, at its sole discretion: (i) limit the award to a specific dollar amount; (ii) specify the schedule on which the tax credits may be claimed; (iii) limit or restrict the right of the controlling business to carry unused tax credits forward to subsequent tax years; and (iv) allow all or some portion of the credits to be refundable. When a controlling business expects that new jobs will be created over a period of multiple years, the EACC, in awarding tax credits, may allocate and make such credits available to the taxpayer on a schedule that ensures that the tax credits are claimed on or after the date that the jobs are created.
[There is no subsection (b).]