Section 2.03 - The Economic Assistance Coordinating Council(1) The EACC: (a) accepts and reviews applications for EDIP tax credits, certifies projects that undertake to create or retain full-time jobs in the Commonwealth and determines the amount of credits to be awarded to a Controlling Business and the schedule on which the credits may be claimed;(b) reviews and approves tax increment financing agreements and special tax assessments proposed by municipalities under M.G.L. c. 23A, § 3E and M.G.L. c. 40, § 59;(c) assists municipalities to identify and obtain state and federal resources and assistance to enhance the ability of certified projects to achieve their job creation and retention commitments;(d) coordinates with other state programs, agencies, authorities and public instrumentalities to promote the Commonwealth's programs supporting job creation and retention;(e) monitors compliance with commitments made by Controlling Businesses to create and retain jobs within the Commonwealth and to decertify projects that materially fail to meet those commitments;(f) monitors the EDIP tax credits authorized annually in order not to exceed the statutory cap on the amount of credits that can be awarded in a single calendar year;(g) designates economic target areas and economic opportunity areas and authorizes municipalities to apply for United States Foreign Trade Zone Board for the privileges of establishing, operating and maintaining a foreign trade zone in accordance with M.G.L. c. 23A, § 3G;(h) adopts by-laws to govern the implementation of its responsibilities; and(i) within its discretion, promulgates regulations and issues guidance necessary or advisable to implement the EDIP program, assist municipalities and Controlling Businesses to develop and submit applications for potential certified projects.(2) The EACC may request the assistance of the secretary and the director as needed, and may rely on their recommendations and advice in carrying out its responsibilities.Amended by Mass Register Issue 1372, eff. 8/24/2018.