10 CCR s 5480.8

Cal. Admin. Code tit. 10, s 5480.8

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 5480.8. Monitoring Process.

(a) The CIEDB Board shall determine if Eligible Entities utilizing the
Partial Exemption awarded by the CIEDB Board have met all of the following
requirements:

(1) Submitted a Certification Letter documenting both the
Investments made and 500 new Direct Jobs plus Supporting Jobs within
one year of the Partial Exemption Use Date (unless extended pursuant
to an approved Extension Request); and

(2) The Eligible Entity has attained and maintained the Investment,
and 500 new Direct Jobs plus Supporting Jobs.

(b) If CIEDB staff determines that any Eligible Entity has not met the
requirement in subsection (a) it will mail to the Eligible Entity an
Intent of Revocation Letter

(c) Eligible Entities that receive an Intent of Revocation Letter shall be
authorized to request an opportunity to be heard in front of the CIEDB
Board to contest the Intent of Revocation Letter. Any such request must be
made in writing to the CIEDB Board and postmarked not later than 15
calendar days following mailing of the Intent of Revocation Letter.

(d) The CIEDB Board shall agenda all Intent of Revocation Letters at the
next regularly scheduled Board meeting, held on or after 30 days from the
date of the mailing of an Intent of Revocation Letter. Upon adoption of
the Intent of Revocation Letter, the CIEDB Board shall mail the Intent of
Revocation Letter to the Board of Equalization and to the Eligible Entity
within 7 calendar days of its adoption.

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 5480.8, 10 CA ADC s 5480.8
1CAC

10 CA ADC s 5480.8

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