Conn. Agencies Regs. § 17-615-8 - Application approval process
(a) Applications
from business firms shall be submitted to the Commissioner after the October
first preceding the expenditure year and on or before June first of the
expenditure year. Applications shall be approved or rejected in writing by the
Commissioner within sixty (60) days of receipt based on the information
submitted, as well as the availability of funds.
(b) As part of the application approval
process, business firms who are seeking a tax credit shall be required to
indicate whether:
(1) the facility will be
operated under a license from the state Department of Health
Services.
(2) the facility will be
operated by the applicant on a not-for-profit basis.
(3) any other firms will seek a tax credit
for sharing the costs of establishing the facility. All such firms may seek a
proportional share of the tax credit.
(c) The applicant's principal place of
business shall be furnished on the application.
(d) For those applications that are approved,
the notification shall specify the maximum tax credit allocated to the business
firm. A copy of such decision of approval shall be attached to the business
firm's tax return filed with the State Department of Revenue
Services.
(e) If an application is
disapproved, the business firm shall be notified in writing of the reasons for
the disapproval by the Commissioner.
Notes
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