Section 540. Zone termination and incentive qualification

Part XIII. Zone Termination and Incentive Qualification

A. A zone shall be terminated in accordance with the procedures set forth in 13VAC5-112-510, 13VAC5-112-520 and 13VAC5-112-530 D upon written notice to a local governing body. The date of such notice is considered to be the date of zone termination.

B. Qualified business firms, large qualified zone residents and qualified zone investors located in a terminated zone may continue to request state enterprise zone incentives for any remaining years in the incentive period for which they are eligible as provided for in 13VAC5-112-20, 13VAC5-112-110, 13VAC5-112-260 and 13VAC5-112-330.

C. In the case of qualified business firms and large qualified zone residents qualified under 13VAC5-112-20 and 13VAC5-112-110, the incentive period shall not go beyond 2019.

Historical Notes

Derived from Volume 23, Issue 12, eff. March 21, 2007; amended, Virginia Register Volume 26, Issue 01, eff. October 14, 2009.

Statutory Authority

§ 59.1-541 of the Code of Virginia.