§ 51134. Licenses to Operate Business in Free Trade Zone
§ 51134 TITLE 4: ECONOMIC RESOURCES DIVISION 5: BUSINESS REGULATION § 51134. Licenses to Operate Business in Economic Incentive District. (a) A license issued by the Economic Incentive Authority is required for any business operating or planning to operate within a economic incentive district to gain the benefits of this Act. (b) Any person may apply on the prescribed form to the Board to establish and operate a business, industrial or commercial activity in an economic incentive dis- trict, provided, however, that existing businesses within the Commonwealth may not relocate existing business, industrial or commercial activities from outside a economic incentive district into an economic incentive district. (c) The Board shall promulgate regulations setting forth the factors to be con- sidered in granting a license to operate in the zones. These policies may include: and analysis of the economic impact on the Commonwealth, the amount of capital investment proposed, a cost/benefit analysis of the proposed activity, the environ- mental impact of the proposed activity, the impact on other business, industrial and commercial activities within the Commonwealth, the labor requirements of the proposed activity, and to what extent the applicant proposes to train and to employ resident workers. Where the Board is satisfied that the business or enterprise de- scribed in the application meets the stated policies of this Act and the regulations, and upon payment of the prescribed fee, the Board may approve the application and issue to the applicant a license, authorizing the applicant to establish and op- erate within the economic incentive district the business or enterprise specified in the license. (d) There may be attached to every license such conditions as the Board may consider necessary, including but not limited: (i) the time within which the person or company shall commence operation; (ii) the minimum amount of investment to be made in the economic incentive districts; and (iii) any limitations on the licensee’s labor force. (iv) the business, industrial and commercial activities that may be carried on in the zone. (e) Licenses granted by the Board shall not be transferable to any other person without prior approval of the Board. (f) The Board shall publish in the Commonwealth Register the name of any person to whom a license has been granted under this Act. Source: PL 12-20, § 19, modified; amended by PL 24-05, §§ 2, 3 (July 22, 2025). Commission Comment: The Commission deleted a duplicate comma in sub- section (c) after the word “registration.”
Source: CNMI Law Revision Commission