288.9918 Annual reporting by a community development entity.
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288.9918 Annual reporting by a community development entity.
A community development entity that has issued a qualified investment shall submit an annual report to the office by April 30 after the end of each year which includes a credit allowance date. The report shall include:
(1) The entity’s annual financial statements for the preceding tax year, audited by an independent certified public accountant.
(2) The identity of the types of industries, identified by the North American Industry Classification System Code, in which qualified low-income community investments were made.
(3) The names of the counties in which the qualified active low-income businesses are located which received qualified low-income community investments.
(4) The number of jobs created and retained by qualified active low-income community businesses receiving qualified low-income community investments, including verification that the average wages paid meet or exceed 115 percent of the federal poverty income guidelines for a family of four.
(5) A description of the relationships that the entity has established with community-based organizations and local community development offices and organizations and a summary of the outcomes resulting from those relationships.
(6) Other information and documentation required by the office to verify continued certification as a qualified community development entity under 26 U.S.C. s. 45D.
History. ss. 11, 15, ch. 2009-50.
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Note. Expires December 31, 2022, pursuant to s. 15, ch. 2009-50.