Section 2.04 - Scope and Applicability of the EDIP(1)Incentives. The Economic Development Incentive Program provides tools to stimulate the creation of employment and economic development opportunities in Massachusetts. EDIP offers incentive tax credits to businesses who undertake to create new jobs in Massachusetts, including relocating jobs from outside the state, and in some cases for retaining jobs threatened by incentives offered by other jurisdictions. The EDIP provides a business with a variety of economic incentives and benefits, including EDIP tax credits, refundable EDIP tax credits, local tax increment financing agreements and special tax assessment agreements.(2)Certified Projects. Certified project designation provides a mechanism by which economic development can be stimulated by attracting new businesses into those areas and by encouraging existing businesses to expand. Designation can be obtained through a request to the EACC by a business intending to develop or expand a project that the EACC designate a particular project to be undertaken by the business as a "certified project," thereby allowing the business to benefit from the various tax relief programs made available by the EDIP.(3)Local Incentives. Tax increment financing is available to a certified project and certain other eligible projects pursuant to M.G.L. c. 40, § 59. A special tax assessment is available to a certified project, a real estate project and certain other eligible projects pursuant to M.G.L. c. 23A, § 3E(c). Although these incentives are negotiated and developed at the local level, the EACC must approve TIF agreements and STA agreements pursuant to 402 CMR 2.07 before they become effective.(4)Relation to Tax Laws. The EACC does not administer or interpret the tax laws of the Commonwealth, and businesses using or considering the use of the EDIP cannot rely on the EACC or its staff for advice or guidance in regard to tax matters. Such businesses are advised to consult their tax advisors and the Massachusetts Department of Revenue on all matters relating to the EDIP tax credits.Amended by Mass Register Issue 1372, eff. 8/24/2018.