Section 55. Review and selection of application; allocation of tax credits

After January 1, 2000, no tax credits shall be allocated by the authority, except allocations made prior to January 1, 2000, may be increased as provided in 13VAC10-160-120.

Upon compliance with the state code and these rules and regulations, the owner to whom an allocation has been made prior to January 1, 2000, shall be entitled to tax credits annually, in such amount as is determined by the authority pursuant to these rules and regulations, for each year beginning in the year for which such allocation is made and ending December 31, 2010, unless sooner terminated or reduced pursuant to these rules and regulations.

Historical Notes

Derived from Volume 13, Issue 21, eff. July 1, 1997; amended, Virginia Register Volume 16, Issue 26, eff. September 1, 2000; Volume 22, Issue 07, eff. December 1, 2005.

Statutory Authority

§ 36-55.30:3 of the Code of Virginia.