- (1) If the board of investments determines that the loan to the local government has not met the conditions set forth in 17-6-309 , MCA, the credit for the infrastructure user fee shall be subject to recapture.
- (2) The credit recaptured will be the credit claimed to date to offset the taxpayer's tax liability plus any applicable interest, pursuant to Title 15, chapters 30 and 31, MCA.
- (3) Any credit previously eligible for the carry forward on a loan that the board of investments determines does not qualify will not be available for carry forward.
Authorizing statute(s): Sec. 15-1-201, MCA
Implementing statute(s): Sec. 17-6-309 and 17-6-316, MCA
History: NEW, 1996 MAR p. 1178, Eff. 4/26/96; TRANS, from ARM 42.23.506, 2004 MAR p. 1965, Eff. 8/20/04.