122:7-1-08 Remedies.

 

 

 

122:7-1-08                   Penalties.

 

 

In the event a taxpayer fails to achieve the number of new full-time employment positions by the date set forth in the tax credit agreement or if the authority finds that the taxpayer has failed to comply with any term set forth in the tax credit agreement, the authority may unilaterally and prospectively reduce the percentage and term of the tax credit or immediately terminate the tax credit set forth in the tax credit agreement. In the event a taxpayer relocates employment positions in violation of section 122.17(D)(8) of the Revised Code and that taxpayer has been previously issued tax credit certificates, the authority may, after providing notice, reduce the tax credit rate to preclude the taxpayer from taking any further credits for the term of the tax credit. In the event a taxpayer relocates such positions and has not been previously issued a tax credit certificate, the authority may terminate the tax credit.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

122:7-1-08                                                                                                                             2

Effective:                                11/10/2003

R.C. 119.032 review dates:    08/15/2003 and 11/10/2008

CERTIFIED ELECTRONICALLY

Certification

10/30/2003

Date

Promulgated Under:   119.03 Statutory Authority:                   122.17(I) Rule Amplifies:                                    122.17

Prior Effective Dates: 11/8/99, 4/8/94