§ 50211. Conditions of Benefits
TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 50211. Conditions of Benefits. In its recommendation of specific tax benefits, the Commonwealth Economic Development Authority in consultation with the Division of Revenue and Taxation shall consider the following as possible terms and conditions to such benefits: (a) Cap on Amount. Capping the tax benefits to a fixed dollar amount; (b) Public Benefits and Contributions. (i) conditioning the tax benefits on the Beneficiary’s investment or investing in or creation of or creating public improvements separate from its activities or proposed activities, (ii) establishment of or establishing in-house training programs, or (iii) contribution to or plans to make a contribution to an independent train- ing program or scholarship fund; and (c) Local Purchaser. Requiring the Beneficiary to procure services or products from CNMI-licensed vendors if the cost does not exceed one hundred five percent of the cost of the same services or products available from off-island vendors. Source: PL 12-32, § 3 (3311); subsections (a) and (b) amended by PL 12-80, § 2(g); PL 22-1, § 3 (June 7, 2021).
Source: CNMI Law Revision Commission