Investment Application

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Understanding for Program Participation

As part of our continued efforts to administer programs in an efficient and equitable manner, Commerce will be revising our standard practices for the allocations of tax credits.

All 2020 beginning allocations for approved companies will be capped at $150,000. The actual beginning allocation will vary depending on the immediate credit requirements of the company and the overall supply of credits available at that time.

As a company demonstrates progress with investors and submits the appropriate documents to Commerce for processing, they will be eligible for additional credits on a first come first serve basis, credits over $150,000 are not guaranteed.

The company will not be allocated additional credits until all the original credit allocations have been issued to investors by KDC.

From the date of the company’s first allocation of credits they have 80 days to issue all their allocation.Any allocation not used by the expiration date listed you the approval letter will be clawed back and put back in the Tax Credit pool for other companies if an extension is not requested at least 2 weeks before the expiration date.

All credits must be allocated, investors registered, and fees paid no later than 11/15 of the program year. Any investments or unregistered investors after 11/15 are not guaranteed tax credits.

Commerce is implementing this process to allow for a more responsive allocation process throughout the program year.