8 Colo. Code Regs. § 1204-10-3
Current through Register Vol. 47, No. 20, October 25, 2024
Section 8 CCR 1204-10-3 - Tax Credit Letter of Eligibility - Submission, Review, and Issuance3.1. A Member of the Consortium or a Purchaser may submit an application to the Department for a letter of eligibility for a tax credit certificate to determine whether any proposed expense would qualify before incurring that expense.3.2. The application must include a certification that the applicant is either: 3.2.1. a Purchaser who is a small food retailer or small family farm that will purchase small food business recovery and resilience grant program equipment; or3.2.2. a Member of the Consortium that will spend an Amount Certain on completing its duties and responsibilities.3.3. The application must also include detailed information regarding: 3.3.1. the Purchase Price that would be incurred by a Purchaser and the date on which the purchase would be made, including any portion covered by a Grant Award received through the Small Food Business Recovery Resilience Grant Program or other grant, loan, or funding source; or3.3.2. an itemized total of the Amount Certain that a Member of the Consortium would spend on completing its Duties and Responsibilities, minus any amount already provided by the Consortium, and the date or dates on which the Member of the Consortium would spend the amounts.3.4. Interested individuals will find applications for a Letter of Eligibility on the Community Food Access Program website at www.ag.colorado.gov/CFA.3.5. A Letter of Eligibility does not guarantee that an applicant for a Tax Credit Certificate will receive a Tax Credit Certificate. Applicants must submit a full application for a tax-credit certificate separately, pursuant to Part 4 of this rule, for the Department's review and consideration after the applicant has incurred the proposed expense.3.6. An applicant must submit a complete Letter of Eligibility application and provide all required supporting documentation before the Department may determine if the Duties and Responsibilities or Equipment purchased would qualify for a tax credit certificate if purchased. The Department will notify applicants in writing if their application is incomplete.3.7. The Department will review the Letter of Eligibility application and issue a decision in writing to approve, deny, or seek additional clarification from the applicant. If the Department requests additional clarification or documentation, the applicant will have 10 business days to provide the requested information, after which the Letter of Eligibility application will be deemed abandoned by the applicant and denied. Applicants can request an extension of this deadline in writing or submit a revised application for a Letter of Eligibility at a later date. Any such request must be made in writing (by e-mail or post) and received by the Department no later than three business days before the deadline to provide the requested information.3.8. Decisions based on statutory requirements are not appealable.47 CR 03, February 10, 2024, effective 3/16/2024