Section 280-RICR-20-20-6.12 - Timing and ReapplicationA. Taxpayers shall have twelve (12) months from the certification date of Part 2 Application to commence Substantial Construction activities. 1. For this purpose, Substantial Construction activities shall be deemed to have commenced upon receipt by the Division of Taxation of all of the following:b. Executed construction contract; andc. Notice to proceed issued to the contractor.2. For taxpayers acting as their own contractor, Substantial Construction activities shall be deemed to have commenced upon receipt by the Division of Taxation of the building permit along with an affidavit of commencement of Substantial Construction and supporting documentation.B. Upon commencing Substantial Construction activities, the Applicant shall submit an affidavit of Commencement of Substantial Construction Activities to the Commission and the Division of Taxation, together with evidence of such requirements having been satisfied.C. Pursuant to R.I. Gen. Laws § 44-33.6-7, no project shall Remain Idle prior to completion for a period of time exceeding six (6) months. In the event that an Applicant does not commence Substantial Construction activities within twelve (12) months from the date of Part 2 Certification, or in the event that a project Remains Idle prior to completion for a period of time exceeding six (6) months, the subject Applicant shall forfeit all fees paid prior to such date, and all rights and entitlements to the tax credits, and its then-current Contract for tax credits shall be deemed null and void, and shall terminate without need for further action or documentation.D. Applicants may reapply for tax credits providing the applicant satisfies the requirements established in R.I. Gen. Laws Chapter 44-33.6. However, notwithstanding anything contained herein to the contrary, one hundred percent (100%) of the Processing Fees required shall be paid upon reapplication and such Processing Fees shall be non-refundable. Additionally, any taxpayer reapplying for tax credits pursuant to R.I. Gen. Laws § 44-33.6-7 shall be required to submit evidence with its application establishing the reason for delay in commencement or the project sitting idle, as the case may be, and provide evidence, reasonably satisfactory to the Commission, that such condition or event causing same has been resolved. All taxpayers shall submit a reasonably detailed project timeline to the Commission together with the Part 2 Application. The provisions of this regulation shall be further detailed and incorporated into a Contract for tax credits used in connection with R.I. Gen. Laws Chapter 44-33.6.280 R.I. Code R. § 280-RICR-20-20-6.12