§ 105-129.63. (For delayed repeal, see note) Determination by the Secretary of Commerce.
§ 105‑129.63. (Fordelayed repeal, see note) Determination by the Secretary of Commerce.
The taxpayer must apply to theSecretary of Commerce for the determination required under G.S. 105‑129.62.The application must be made under oath and must provide any information theSecretary requires in order to make the determination. The determination by theSecretary of Commerce is a factual determination. The Secretary must make thisdetermination in any case in which the taxpayer can demonstrate performance or canprovide a credible plan for performance.
If the taxpayer fails tocreate the required number of new jobs or to make the required investment, theinformation provided by the taxpayer on the application proves to have beenfalse at the time it was given, and the person making the application knew orshould have known that the information was false, the taxpayer forfeits anycredits claimed under this Article with respect to the facility. A taxpayerthat forfeits a credit under this Article is liable for all past taxes avoidedas a result of the credit plus interest at the rate established under G.S. 105‑241.21,computed from the date the taxes would have been due if the credit had not beenallowed. The past taxes and interest are due 30 days after the date the creditis forfeited; a taxpayer that fails to pay the past taxes and interest by thedue date is subject to the penalties provided in G.S. 105‑236. (2004‑204, 1st Ex.Sess., s. 1; 2005‑435, s. 29(d); 2007‑491, s. 44(1)a.)