2010 Arizona Revised Statutes
Title 35 - Public Finances
35-905 Restrictions on confirmations

35-905. Restrictions on confirmations

A. Before April 1 of each year, seventy per cent of the allocation to manufacturing projects described in section 35-902, subsection F is reserved for manufacturing projects located in nonurban areas, and the remaining thirty per cent of the allocation to manufacturing projects described in section 35-902, subsection F shall be reserved for urban areas. Before July 1 of each year, seventy per cent of the allocation available for confirmation pursuant to the director's discretion as described in section 35-902, subsection B is reserved for projects located in nonurban areas, and the remaining thirty per cent of the allocation to the director's discretion as described in section 35-902, subsection B, shall be reserved for urban areas.

B. Before December 17, a confirmation shall not be allocated to a project in an amount greater than thirty-five million dollars, except that this subsection does not apply to any project that is eligible to receive an allocation pursuant to section 35-902, subsection B, C or E. For the purposes of this subsection, the amount of allocation to a project shall also include any other state ceiling allocation received by any related person to the project. For the purposes of this subsection, "related person" has the same meaning as provided in section 147(a)(2) of the code, except that all references to fifty per cent shall be changed to twenty-five per cent.