Examples of Certificate of Completed Work in a sentence
Any Credit claimed under the Act shall be recaptured in full (by increasing the taxpayer’s tax for the year by the total amount of Historic Preservation Investment Tax Credit actually used against the tax) if, within 24 months after the issuance of a Certificate of Completed Work, the property becomes Exempt from Real Property Tax.
Applicants requesting certification of a proposed Rehabilitation shall comply with the procedures listed in Paragraph 1 below; Applicants requesting a Certificate of Completed Work shall comply with the procedures listed in Paragraph 2, below.
Any credit claimed under the Act shall be recaptured in full (by increasing the taxpayer’s tax for the year by the total amount of historic preservation tax credit actually used against the tax) if, within 24 months after the issuance of a Certificate of Completed Work, the property becomes Exempt from Real Property Tax.
Within 30 days after the Commission’s receipt of a complete and fully documented application for certification of completed work, the Commission shall issue to the Applicant a written determination either denying or certifying the Rehabilitation (a "Certificate of Completed Work").
The Commission or the Tax Division shall have the right at reasonable times to enter upon any property that is the subject of an application for certification, whether the Rehabilitation is proposed, ongoing, or completed, and for the entire Holding Period following issuance of a Certificate of Completed Work, to verify that the Rehabilitation is as represented and that no unpermitted alterations or changes are made after issuance of a Certificate of Completed Work.
Notwithstanding the foregoing, the Commission and/or the Tax Division must issue (i) a written determination either granting or denying a Certificate of Completed Work and (ii) a certification of the amount of Historic Preservation Investment Tax Credit for which the Substantial Rehabilitation qualifies within 90 days after receipt of a complete, adequately documented application for a Certificate of Completed Work.
Thereafter, Assignable Historic Preservation Investment Tax Credit Certificates may be issued upon issuance of a Certificate of Completed Work for later phases without again having to meet the Substantial Rehabilitation test.
The Commission shall have the right at reasonable times to enter upon any property that is the subject of an application for certification, whether the Rehabilitation is proposed, ongoing, or completed, and for the entire Holding Period following issuance of a Certificate of Completed Work, to verify that the Rehabilitation is as represented and that no unpermitted alterations or changes are made after issuance of a Certificate of Completed Work.
Thereafter, Assignable Historic Preservation Investment Tax Credit Certificates may be issued upon issuance of a Certificate of Completed Work for later phases without again having to meet the Substantial Rehabilitation Test.
In the case of a Rehabilitation reasonably expected to be completed in phases as described in Section 44--33.2--2(8) of the Rhode Island General Laws, “Holding Period” shall be extended to include a period of time beginning on the date of issuance of a Certificate of Completed Work for the first phase or phases for which a Certificate is issued and continuing until the expiration of twenty--four (24) months after the Certificate of Completed Work issued for the last phase.