10 CCR s 5480.4

Cal. Admin. Code tit. 10, s 5480.4

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 5480.4. Application and Request Process.

(a) The CIEDB Board shall establish the date of the CIEDB Board meeting
for Applications and Requests to be considered at the beginning of each
calendar year. CIEDB shall provide notice of this meeting via the mail to
individuals on its Interested Parties List, post on the CIEDB Website, and
file an advertisement in the California Regulatory Notice Register at
least 30 days prior to the application deadline. Any person may be placed
on the Interested Parties List by notifying the CIEDB Board.

(b) The deadline for all Applications and Requests shall be 60 days prior
to the established CIEDB Board meeting. All Applications and Requests must
be postmarked at least 60 calendar days prior to the CIEDB Board meeting
designated in subsection (a).

(c) If the Application or Request is either incomplete or does not
document intent to meet the requirements of an Eligible Entity, the CIEDB
Board shall send a written notice of deficiency not later than 15 days
from the date the Application is received by the CIEDB Board. The notice
of deficiency shall state what items in the Application or Request must be
corrected to be complete and/or document intent to be an Eligible Entity.
The Applicant will have ten calendar days to submit to the CIEDB Board
written correction to the deficiency,

(d) An Application shall be considered complete if it is postmarked by the
deadline provided in subsection (b), complies with Section 5480.2 and if
applicable, complies with the provisions in subsection (c) of this
section. A Request shall be considered complete if it is postmarked by the
deadline provided in subsection (b), complies with Section 5480.3, and if
applicable, complies with the provisions in subsection (c) of this
section.

(e) CIEDB Board staff shall recommend approval of all complete
Applications and Requests, and recommend disapproval of incomplete
Applications or Requests unless all of the deficiencies are corrected
within the timeframe specified in subsection (c).

(f) The CIEDB Board shall adopt a resolution for each applicant approved
as an Eligible Entity and execute an Eligibility Letter. The Eligibility
Letter shall remain valid until and unless the CIEDB Board issues an
Intent of Revocation Letter.

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 5480.4, 10 CA ADC s 5480.4
1CAC

10 CA ADC s 5480.4

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