Section 122:21-2-04 - Ohio film and theater capital improvement tax credit - reporting(A) Progress report. Within ninety days after the director approves a project that was not already complete at the time the application was submitted, the applicant will submit, on a form prescribed by the director, sufficient evidence of reviewable progress to the director. The director may request additional updates from the applicant regarding the progression of the project as frequently as the director considers necessary thereafter until the project is complete or approval of the project is rescinded. The applicant will respond to each such request within thirty days. The director may rescind approval of a project if the applicant fails to timely submit sufficient evidence of reviewable progress. The director may also rescind approval of a project if the applicant fails to respond to the director's request for a project update; or if the director determines that the progression of the project is significantly behind the schedule submitted in the tax credit application.
(B) Completion report and tax certificate request. An applicant whose project is approved by the director is to submit within ninety days after the director approves the project or within ninety days after a project approved by the director is complete, whichever is later, at the applicant's expense, a tax certificate request and a completion report, including a report certified by an independent certified public accountant, or an accounting firm registered under Chapter 4701. of the Revised Code, who has examined the applicant's qualified expenditures in accordance with the requirements of section 122.852 of the Revised Code.Ohio Admin. Code 122:21-2-04
Effective: 12/20/2024
Five Year Review (FYR) Dates: 12/20/2029
Promulgated Under: 119.03
Statutory Authority: 122.852
Rule Amplifies: 122.852