§ 9-65. Rebate—Business personal property tax by certain businesses located in enterprise subzone.

(a)

Any business which locates from outside the county to an enterprise subzone after January 1, 2006 is qualified to receive a rebate of business personal property tax subject to the terms and conditions of this section 9-65.

(b)

An application for a rebate under this section must be submitted to the county economic development department, and the benefit accessed by the business within one year of locating in the subzone.

(c)

The rebate shall be equal to 100 percent of the taxes paid on business tangible personal property up to a maximum of $100,000.00 for the first full calendar year the business is located in an enterprise subzone approved by the state.

(d)

To qualify for the rebate under subsection (c), the business must make a capital investment of at least $3,000,000.00 within the subzone.

(e)

Relocation of existing operations to a subzone are ineligible for tax relief under this section, unless qualifying capital investment requirements are met, as outlined in subsection (d) above.

(Ord. of 9-27-06(2))

(Ord. of 9-27-06(2))