10 CCR s 5480.2

Cal. Admin. Code tit. 10, s 5480.2

CALIFORNIA CODE OF REGULATIONS
TITLE 10. INVESTMENT
CHAPTER 7.72. RURAL INVESTMENT TAX EXEMPTION
This database is current through 01/05/07, Register 2007, No. 1.
s 5480.2. Eligible Entity Application.

(a) A complete Application consists of a written request containing all of
the following items:

(1) Name of Applicant;

(2) Address of Eligible Facility;

(3) Primary classification code from the SIC or NAICS for the
Eligible Facility;

(4) Applicant contact person name, title, address, phone number,
fax number and email address;

(5) Date the Application is signed;

(6) Signature of an Authorized Applicant Representative;

(7) The following information relating to Direct Jobs:

(A) For FTE Employees hired on or before the date of the
Application:

1. The job title of each employee;

2. The date of hire of each employee;

3. The primary job location for each employee. As used in this
subsection "primary job location" means the location where the
employee performs a minimum of 50% of their work duties;

4. The hours worked by each employee in the last year. If the
employee has been employed less than one year and the position was
in existence prior to the hiring of the employee, include the hours
allocated to this position prior to the hiring of this employee. If
the position has existed for less than a year the number of hours
for the position when extrapolating existing hours to an annualized
basis, e.,g. 600 hours for 6 months is a 1,200 hour annualized
position. In no case shall one employee, or one job position, if
more than one person held the same job position (e.g. one employee
left the firm and was replaced with another employee) account for
more than 1,750 hours annually; and

5. A certification by the Authorized Applicant Representative that
as of the date the Application is signed each employee listed is
still working for the Applicant at approximately the FTE Employee
hours listed in the Application, their primary job location is in
the county where the Eligible Facility is located, and the Direct
Jobs and Supporting Jobs will be maintained for at least 24 months
following the Attainment Date.

(B) For FTE Employees to be hired after the date of the
Application;

1. The job title of each employee that will be hired;

2. The estimated date of hire of each employee;

3. An estimate of annual hours of employment for that employee; and

4. A certification that the Applicant has a good faith intention to
hire employees for the job positions as listed, approximately when
listed, agrees and understands that each employee must be primarily
employed in the county where the Eligible Facility is located and
must be maintained for at least 24 months following the Attainment
Date.

(8) Detailed listing of the items making up the Investment
including the following information:

(A) For item(s) already purchased:

1. Date of purchase;

2. Amount and proof of purchase, e.,g. invoice;

3. Description of item and use; and

4. A certification that as of the date the Application is signed
this portion of the Investment is still owned by the Applicant,
located in the county where the Eligible Facility is located, and
that the Investment will be owned by the Applicant and maintained in
the county for at least 24 months after the Attainment Date.

(B) For item(s) to be purchased in the future;

1. Estimated date of purchase;

2. Estimated amount of purchase and written basis for the estimate,
e.g. invoices, purchase orders or vendor materials;

3. Description of item and use; and

4. A certification that the Investment will be made by the
Applicant and located in the county where the Eligible Facility is
located, and that the Investment will be owned by the Applicant and
maintained in the county for at least 24 months after the Attainment
Date.

Note: Authority cited: Section 11152, Government Code; and
Section 6378.1, Revenue and Taxation Code. Reference: Section
6378.1, Revenue and Taxation Code.

HISTORY

1. New section filed 8-15-2002; operative 9-14-2002 (Register 2002, No.
33).

10 CCR s 5480.2, 10 CA ADC s 5480.2
1CAC

10 CA ADC s 5480.2

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