§5B-2E-6. Agreement between development office and approved company


Published: 2015

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WVC 5 B- 2 E- 6

§5B-2E-6. Agreement between development office and approved

company.

The development office, upon final approval of an application

by the executive director, may enter into an agreement with any

approved company with respect to its project. The terms and

provisions of each agreement shall include, but not be limited to:

(1) The amount of approved costs of the project that qualify

for a sales tax credit, as provided in section seven or section

seven-a of this article, as applicable. Within three months of the

completion date, the approved company shall document the actual

cost of the project through a certification of the costs to the

development office by an independent certified public accountant

acceptable to the development office; and

(2) A date certain by which the approved company shall have

completed and opened the project to the public. Any approved

company that has received final approval may request and the

development office may grant an extension or change, however, in no

event shall the extension exceed three years from the date of final

approval to the completion date specified in the agreement with the

approved company.





Note: WV Code updated with legislation passed through the 2015 Regular Session

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