Section 12-217ll-8 - Limitations on allowable production expenses or costs(a) An applicant may include only actual, paid production expenses or costs in the detailed cost report. The cost report must provide sufficient information so that an independent auditor can verify the production expenses or costs and determine whether such costs are allowed pursuant to the act and these regulations.(b) Refunds, rebates, insurance claim recoveries, discounts, invoicing errors, returns and other such credits must be credited against the expenses or costs itemized in the cost report.(c) When an applicant incurs related party transaction costs, the costs allowable shall be limited to the fair market value as determined by the Commission of the services, goods or other tangible property provided to applicant by the related party.(d) Production expenses or costs which have been included in any prior application for a tax credit voucher or included in an application for a tax credit under sections 12-217jj or 12-217kk of the Connecticut General Statutes or any other section of the Connecticut General Statutes shall not be allowable.(e) Expenses or costs related to the transfer of any tax credit shall not be allowable.Conn. Agencies Regs. § 12-217ll-8
Adopted effective February 5, 2009