Section 23A:3C - Project proposal to create permanent full-time employees within the commonwealth; certification(a) A controlling business may petition the EACC to certify a proposed project by submitting the following to the EACC: (i) a detailed description of the proposed project; (ii) a representation by the controlling business regarding the amount of capital investment to be made, the number of new jobs to be created and the number of existing jobs to be retained; (iii) a representation by the controlling business regarding any other economic benefits or other public benefits expected to result from the construction of the proposed project; and (iv) any other information that the EACC may require by regulation, policy or guidance. (b)(1) Upon receipt of a completed project proposal, the EACC may certify the proposed project, deny certification of the proposed project or certify the proposed project with conditions. In order to certify a proposed project, with or without conditions, the EACC shall make the following required findings based on the project proposal and any additional investigation that the EACC shall make: (i) the proposed project is located or will be located within the commonwealth; (ii) the proposed project qualifies as an expansion project, in-state relocation project, out-of-state relocation project or retention project; (iii) the controlling business has committed to maintaining new and retained jobs for a period of not less than 3 years after the completion of the proposed project; (iv) the proposed project appears to be economically feasible and the controlling business has the financial and other means to undertake and complete the proposed project; (v) the EDIP tax credits available to the controlling business pursuant to this chapter are a significant factor in its decision to undertake the proposed project; and (vi) the proposed project complies with all applicable statutory requirements and with any other criteria that the EACC may prescribe by regulation, policy or guidance.(2) The EACC shall, by regulation, policy or guidance, provide for the contents of an application for project certification, which may include a requirement that the controlling business provide written evidence to support clause (v). (c) A certified project shall retain its certification for the period specified by the EACC in its certification decision; provided, however, that such specified period shall be not less than 5 years or more than 20 years from the date of certification.(d) Notwithstanding subsections (b) and (c), the EACC may, by guideline or regulation, establish a program to incentivize businesses to occupy vacant storefronts in downtown areas. The EACC may award EDIP tax credits to storefront tenants on a competitive basis, taking into account factors including, but not limited to: (i) the number of jobs to be created; (ii) the volume of pedestrian traffic to be generated; (iii) potential synergy with other downtown businesses; (iv) whether there is a matching contribution from the municipality or the landlord; (v) commitment to storefront improvements; and (vi) whether the municipality has made local plans or investments to revitalize the downtown. Certification of such a project shall require that a business commit to occupying the vacant storefront for a period of not less than 1 year, but the business shall not be required to invest in improvements or create new jobs. Mass. Gen. Laws ch. 23A, § 23A:3C
Amended by Acts 2024, c. 238,§ 31, eff. 11/20/2024.Amended by Acts 2024, c. 238,§ 30, eff. 11/20/2024.Amended by Acts 2018 , c. 228, § 5, eff. 1/1/2019 and applicable to tax years beginning 1/1/2019.Amended by Acts 2016 , c. 219, § 7, eff. 8/10/2016, op. for tax years beginning on or after 1/1/2017.Amended by Acts 2014 , c. 287, § 18, eff. 8/13/2014.