Section 3A. As used in sections three A to three H, inclusive, the following words shall, unless the context clearly requires otherwise, have the following meanings:
“Affiliate”, any business which directly or indirectly controls or is controlled by or is under direct or indirect common control with another business, including, but without limitation, any business with whom a business is merged or consolidated, or which purchases all or substantially all of the assets of a business.
“Business”, a private business corporation, partnership, firm, unincorporated association or other entity engaging or proposing to engage in economic activity within the commonwealth, and any affiliate thereof, which is subject to taxation under chapter sixty-two or chapter sixty-three.
“Business incubator”, a facility which: (i) provides small units of space, shared support services, or financing and management assistance to new and established businesses; or (ii) is created and operated for the principal purpose of addressing conditions of unemployment and economic distress by encouraging the creation of new businesses and improving their ability to survive and grow.
“Certified project”, a project that has been approved by the Economic Assistance Coordinating Council for participation in the economic development incentive program pursuant to the provisions of section three F.
“Control”, the power to direct the management and policies of a business or a facility thereof, directly or indirectly, through the exercise of voting rights, by contract, or otherwise.
“Controlling business”, a business which controls a business or a facility thereof.
“Distress factor”, a fraction, the numerator of which is the sum of (1) the city or town’s unemployment rate for the most recent three years divided by the commonwealth’s unemployment rate for the same period and (2) the commonwealth’s per capita personal income divided by the city or town’s per capita personal income, and the denominator of which is two.
“Economic assistance coordinating council” or “EACC”, the council established pursuant to section three B.
“Economic development incentive program” or “EDIP”, a program designed to promote increased business development and expansion in economic target areas of the commonwealth, to be administered by the EACC.
“Economic opportunity area” or “EOA”, an area of the commonwealth, located wholly within an economic target area, which is designated by the EACC pursuant to section three E as an economic opportunity area.
“Economic target area” or “ETA”, an area of the commonwealth designated as such by the EACC pursuant to section three D.
“Facility”, the physical location, in real property owned or leased by a business, of a commercial or industrial activity, division or component controlled by said business, or any real estate project which involves the construction or renovation of real property to serve such purpose, or any combination of the foregoing, at which are employed, or are projected to be employed, permanent full-time employees of the controlling business.
“Municipal application”, an application submitted by a municipality to the EACC pursuant to section three D or three E for designation of one or more areas as an ETA or an EOA; provided, however, that: (i) the application is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, and supported by independently verifiable information; (ii) the area proposed for designation in the application is located, in whole or in part, within each municipality participating in said application; (iii) each municipality within which said proposed area is located participates in the application for designation; (iv) that said application is properly authorized in advance of submission; (v) in the case of an application submitted by more than one municipality, all requirements applicable thereto, including without limitation the requirements associated with proper authorization thereof, shall, apply equally to each municipality participating in said application; and (vi) a single application may request designation of both an ETA and EOA.
“Municipality”, a city or town in the commonwealth or, in a case in which two or more cities or towns agree to act jointly for some purpose hereunder then, collectively, all cities and towns participating in such a collaborative agreement.
“Permanent full-time employee”, an individual who: (i) is described under the definition of “full-time employee” set forth in section thirty-one C of chapter sixty-three; (ii) at the inception the employment relationship described in clause (i) does not have a termination date which is either a date certain or determined with reference to the completion of some specified scope of work; and (iii) receives employee benefits at least equal to those provided to other full-time employees of the controlling business. The term “increase in the number of permanent full-time employees of the controlling business employed by and at the project” shall be determined with reference to this definition and to the definition of “increase in the number of full-time employees employed by the corporation” set forth in section thirty-one C of chapter sixty-three.
“Poverty rate”, the poverty rate, as defined by the United States Bureau of the Census, using the most recent census data available, for purposes of identifying poverty areas.
“Project”, a facility which in its entirety and as of the project proposal date is located or to be located within an EOA; provided, however, that in the case of a facility which as of the project proposal date is already located in an EOA, the term “project” shall refer only to a facility for which there is proposed an expansion of the number of permanent full-time employees at such facility by the controlling business, to occur subsequent to the project proposal date, which expansion shall represent: (i) an increase in the number of permanent full-time employees employed by the controlling business within the commonwealth; and (ii) not a replacement or relocation of permanent full-time employees employed by the controlling business at any other facility located within the commonwealth; and provided, further, that in the case of a facility to be located within an EOA after the project proposal date, the term “project” shall refer only to a facility which is: (i) the first facility of the controlling business to be located within the commonwealth; or (ii) a new facility of such business and not a replacement or relocation of an existing facility of such controlling business located within the commonwealth or expansion of an existing facility of the controlling business which results in an increase in permanent full-time employees.
“Project EOA”, the EOA within which a project is located or to be located.
“Project ETA”, the ETA within which a project is located or to be located, determined with reference to the project EOA.
“Project proposal”, a proposal submitted by a controlling business to the EACC pursuant to section three F for designation of a project as a certified project; provided, however, that: (i) the proposal is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, supported by independently verifiable information and signed under the penalties of perjury by a person authorized to bind the controlling business; (ii) the proposal includes specific targets by year for the subsequent five calendar year period relative to the projected increase in the number of permanent full-time employees of the controlling business to be employed by and at the project from among residents of the project ETA; provided, further that in the case of a project which as of the project proposal date is already located in the project EOA, such projected increase shall not be less than twenty-five percent over the subsequent five year period; and (iii) in the case of a project which is a new facility within the meaning of clause (ii) of the definition of project, such proposal shall include, in addition, the number of permanent full-time employees employed by the controlling business at other facilities located in the commonwealth.
“Project proposal date”, the date on which a project proposal is received by the EACC; provided, however, that such project proposal had been properly approved in advance of such receipt by the municipality which contains the project EOA.
“Real estate project”, real property relative to which, at a specified date subsequent to the project proposal date, there shall be initiated construction or renovation activity which, when completed, will result in an increase in the assessed value of said real property of at least one hundred percent over the assessed value of such real property as of the project proposal date; provided, however, that in the case of a real estate facility which is a business incubator facility and which is designated to be a certified project pursuant to section three F, each commercial or industrial facility which executes a binding lease for space in such incubator facility subsequent to the date at which the construction or renovation activity begins shall be eligible for designation in its own right as a certified project pursuant to section three F.
Section 3A. As used in sections three A to three H, inclusive, the following words shall, unless the context clearly requires otherwise, have the following meanings:
“Affiliate”, any business which directly or indirectly controls or is controlled by or is under direct or indirect common control with another business, including, but without limitation, any business with whom a business is merged or consolidated, or which purchases all or substantially all of the assets of a business.
“Business”, a private business corporation, partnership, firm, unincorporated association or other entity engaging or proposing to engage in economic activity within the commonwealth, and any affiliate thereof, which is subject to taxation under chapter sixty-two or chapter sixty-three.
“Business incubator”, a facility which: (i) provides small units of space, shared support services, or financing and management assistance to new and established businesses; or (ii) is created and operated for the principal purpose of addressing conditions of unemployment and economic distress by encouraging the creation of new businesses and improving their ability to survive and grow.
“Certified project”, a project that has been approved by the Economic Assistance Coordinating Council for participation in the economic development incentive program pursuant to the provisions of section three F.
“Control”, the power to direct the management and policies of a business or a facility thereof, directly or indirectly, through the exercise of voting rights, by contract, or otherwise.
“Controlling business”, a business which controls a business or a facility thereof.
“Distress factor”, a fraction, the numerator of which is the sum of (1) the city or town’s unemployment rate for the most recent three years divided by the commonwealth’s unemployment rate for the same period and (2) the commonwealth’s per capita personal income divided by the city or town’s per capita personal income, and the denominator of which is two.
“Economic assistance coordinating council” or “EACC”, the council established pursuant to section three B.
“Economic development incentive program” or “EDIP”, a program designed to promote increased business development and expansion in economic target areas of the commonwealth, to be administered by the EACC.
“Economic opportunity area” or “EOA”, an area of the commonwealth, located wholly within an economic target area, which is designated by the EACC pursuant to section three E as an economic opportunity area.
“Economic target area” or “ETA”, an area of the commonwealth designated as such by the EACC pursuant to section three D.
“Facility”, the physical location, in real property owned or leased by a business, of a commercial or industrial activity, division or component controlled by said business, or any real estate project which involves the construction or renovation of real property to serve such purpose, or any combination of the foregoing, at which are employed, or are projected to be employed, permanent full-time employees of the controlling business.
“Municipal application”, an application submitted by a municipality to the EACC pursuant to section three D or three E for designation of one or more areas as an ETA or an EOA; provided, however, that: (i) the application is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, and supported by independently verifiable information; (ii) the area proposed for designation in the application is located, in whole or in part, within each municipality participating in said application; (iii) each municipality within which said proposed area is located participates in the application for designation; (iv) that said application is properly authorized in advance of submission; (v) in the case of an application submitted by more than one municipality, all requirements applicable thereto, including without limitation the requirements associated with proper authorization thereof, shall, apply equally to each municipality participating in said application; and (vi) a single application may request designation of both an ETA and EOA.
“Municipality”, a city or town in the commonwealth or, in a case in which two or more cities or towns agree to act jointly for some purpose hereunder then, collectively, all cities and towns participating in such a collaborative agreement.
“Permanent full-time employee”, an individual who: (i) is described under the definition of “full-time employee” set forth in section thirty-one C of chapter sixty-three; (ii) at the inception the employment relationship described in clause (i) does not have a termination date which is either a date certain or determined with reference to the completion of some specified scope of work; and (iii) receives employee benefits at least equal to those provided to other full-time employees of the controlling business. The term “increase in the number of permanent full-time employees of the controlling business employed by and at the project” shall be determined with reference to this definition and to the definition of “increase in the number of full-time employees employed by the corporation” set forth in section thirty-one C of chapter sixty-three.
“Poverty rate”, the poverty rate, as defined by the United States Bureau of the Census, using the most recent census data available, for purposes of identifying poverty areas.
“Project”, a facility which in its entirety and as of the project proposal date is located or to be located within an EOA; provided, however, that in the case of a facility which as of the project proposal date is already located in an EOA, the term “project” shall refer only to a facility for which there is proposed an expansion of the number of permanent full-time employees at such facility by the controlling business, to occur subsequent to the project proposal date, which expansion shall represent: (i) an increase in the number of permanent full-time employees employed by the controlling business within the commonwealth; and (ii) not a replacement or relocation of permanent full-time employees employed by the controlling business at any other facility located within the commonwealth; and provided, further, that in the case of a facility to be located within an EOA after the project proposal date, the term “project” shall refer only to a facility which is: (i) the first facility of the controlling business to be located within the commonwealth; or (ii) a new facility of such business and not a replacement or relocation of an existing facility of such controlling business located within the commonwealth or expansion of an existing facility of the controlling business which results in an increase in permanent full-time employees.
“Project EOA”, the EOA within which a project is located or to be located.
“Project ETA”, the ETA within which a project is located or to be located, determined with reference to the project EOA.
“Project proposal”, a proposal submitted by a controlling business to the EACC pursuant to section three F for designation of a project as a certified project; provided, however, that: (i) the proposal is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, supported by independently verifiable information and signed under the penalties of perjury by a person authorized to bind the controlling business; (ii) the proposal includes specific targets by year for the subsequent five calendar year period relative to the projected increase in the number of permanent full-time employees of the controlling business to be employed by and at the project from among residents of the project ETA; provided, further that in the case of a project which as of the project proposal date is already located in the project EOA, such projected increase shall not be less than twenty-five percent over the subsequent five year period; and (iii) in the case of a project which is a new facility within the meaning of clause (ii) of the definition of project, such proposal shall include, in addition, the number of permanent full-time employees employed by the controlling business at other facilities located in the commonwealth.
“Project proposal date”, the date on which a project proposal is received by the EACC; provided, however, that such project proposal had been properly approved in advance of such receipt by the municipality which contains the project EOA.
“Real estate project”, real property relative to which, at a specified date subsequent to the project proposal date, there shall be initiated construction or renovation activity which, when completed, will result in an increase in the assessed value of said real property of at least one hundred percent over the assessed value of such real property as of the project proposal date; provided, however, that in the case of a real estate facility which is a business incubator facility and which is designated to be a certified project pursuant to section three F, each commercial or industrial facility which executes a binding lease for space in such incubator facility subsequent to the date at which the construction or renovation activity begins shall be eligible for designation in its own right as a certified project pursuant to section three F.
Section 3A. As used in sections three A to three H, inclusive, the following words shall, unless the context clearly requires otherwise, have the following meanings:
“Affiliate”, any business which directly or indirectly controls or is controlled by or is under direct or indirect common control with another business, including, but without limitation, any business with whom a business is merged or consolidated, or which purchases all or substantially all of the assets of a business.
“Business”, a private business corporation, partnership, firm, unincorporated association or other entity engaging or proposing to engage in economic activity within the commonwealth, and any affiliate thereof, which is subject to taxation under chapter sixty-two or chapter sixty-three.
“Business incubator”, a facility which: (i) provides small units of space, shared support services, or financing and management assistance to new and established businesses; or (ii) is created and operated for the principal purpose of addressing conditions of unemployment and economic distress by encouraging the creation of new businesses and improving their ability to survive and grow.
“Certified project”, a project that has been approved by the Economic Assistance Coordinating Council for participation in the economic development incentive program pursuant to the provisions of section three F.
“Control”, the power to direct the management and policies of a business or a facility thereof, directly or indirectly, through the exercise of voting rights, by contract, or otherwise.
“Controlling business”, a business which controls a business or a facility thereof.
“Distress factor”, a fraction, the numerator of which is the sum of (1) the city or town’s unemployment rate for the most recent three years divided by the commonwealth’s unemployment rate for the same period and (2) the commonwealth’s per capita personal income divided by the city or town’s per capita personal income, and the denominator of which is two.
“Economic assistance coordinating council” or “EACC”, the council established pursuant to section three B.
“Economic development incentive program” or “EDIP”, a program designed to promote increased business development and expansion in economic target areas of the commonwealth, to be administered by the EACC.
“Economic opportunity area” or “EOA”, an area of the commonwealth, located wholly within an economic target area, which is designated by the EACC pursuant to section three E as an economic opportunity area.
“Economic target area” or “ETA”, an area of the commonwealth designated as such by the EACC pursuant to section three D.
“Facility”, the physical location, in real property owned or leased by a business, of a commercial or industrial activity, division or component controlled by said business, or any real estate project which involves the construction or renovation of real property to serve such purpose, or any combination of the foregoing, at which are employed, or are projected to be employed, permanent full-time employees of the controlling business.
“Municipal application”, an application submitted by a municipality to the EACC pursuant to section three D or three E for designation of one or more areas as an ETA or an EOA; provided, however, that: (i) the application is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, and supported by independently verifiable information; (ii) the area proposed for designation in the application is located, in whole or in part, within each municipality participating in said application; (iii) each municipality within which said proposed area is located participates in the application for designation; (iv) that said application is properly authorized in advance of submission; (v) in the case of an application submitted by more than one municipality, all requirements applicable thereto, including without limitation the requirements associated with proper authorization thereof, shall, apply equally to each municipality participating in said application; and (vi) a single application may request designation of both an ETA and EOA.
“Municipality”, a city or town in the commonwealth or, in a case in which two or more cities or towns agree to act jointly for some purpose hereunder then, collectively, all cities and towns participating in such a collaborative agreement.
“Permanent full-time employee”, an individual who: (i) is described under the definition of “full-time employee” set forth in section thirty-one C of chapter sixty-three; (ii) at the inception the employment relationship described in clause (i) does not have a termination date which is either a date certain or determined with reference to the completion of some specified scope of work; and (iii) receives employee benefits at least equal to those provided to other full-time employees of the controlling business. The term “increase in the number of permanent full-time employees of the controlling business employed by and at the project” shall be determined with reference to this definition and to the definition of “increase in the number of full-time employees employed by the corporation” set forth in section thirty-one C of chapter sixty-three.
“Poverty rate”, the poverty rate, as defined by the United States Bureau of the Census, using the most recent census data available, for purposes of identifying poverty areas.
“Project”, a facility which in its entirety and as of the project proposal date is located or to be located within an EOA; provided, however, that in the case of a facility which as of the project proposal date is already located in an EOA, the term “project” shall refer only to a facility for which there is proposed an expansion of the number of permanent full-time employees at such facility by the controlling business, to occur subsequent to the project proposal date, which expansion shall represent: (i) an increase in the number of permanent full-time employees employed by the controlling business within the commonwealth; and (ii) not a replacement or relocation of permanent full-time employees employed by the controlling business at any other facility located within the commonwealth; and provided, further, that in the case of a facility to be located within an EOA after the project proposal date, the term “project” shall refer only to a facility which is: (i) the first facility of the controlling business to be located within the commonwealth; or (ii) a new facility of such business and not a replacement or relocation of an existing facility of such controlling business located within the commonwealth or expansion of an existing facility of the controlling business which results in an increase in permanent full-time employees.
“Project EOA”, the EOA within which a project is located or to be located.
“Project ETA”, the ETA within which a project is located or to be located, determined with reference to the project EOA.
“Project proposal”, a proposal submitted by a controlling business to the EACC pursuant to section three F for designation of a project as a certified project; provided, however, that: (i) the proposal is submitted in a timely manner, in such form and with such information as is prescribed by the EACC, supported by independently verifiable information and signed under the penalties of perjury by a person authorized to bind the controlling business; (ii) the proposal includes specific targets by year for the subsequent five calendar year period relative to the projected increase in the number of permanent full-time employees of the controlling business to be employed by and at the project from among residents of the project ETA; provided, further that in the case of a project which as of the project proposal date is already located in the project EOA, such projected increase shall not be less than twenty-five percent over the subsequent five year period; and (iii) in the case of a project which is a new facility within the meaning of clause (ii) of the definition of project, such proposal shall include, in addition, the number of permanent full-time employees employed by the controlling business at other facilities located in the commonwealth.
“Project proposal date”, the date on which a project proposal is received by the EACC; provided, however, that such project proposal had been properly approved in advance of such receipt by the municipality which contains the project EOA.
“Real estate project”, real property relative to which, at a specified date subsequent to the project proposal date, there shall be initiated construction or renovation activity which, when completed, will result in an increase in the assessed value of said real property of at least one hundred percent over the assessed value of such real property as of the project proposal date; provided, however, that in the case of a real estate facility which is a business incubator facility and which is designated to be a certified project pursuant to section three F, each commercial or industrial facility which executes a binding lease for space in such incubator facility subsequent to the date at which the construction or renovation activity begins shall be eligible for designation in its own right as a certified project pursuant to section three F.
