We are currently processing complete final applications when we receive them and then referring them for inspection. Once inspected and passed, applications will continue to be processed. If the project does not pass inspection, it should be reviewed to determine if it is still eligible for a credit. For any files received after May 1, 2014, we will continue to process complete final applications in the order in which they are received. We will not be doing any conditional final certifications. If we do not receive your application by May 1, 2014, we may not have sufficient time to process it and may not get your tax credit issued before the July 1, 2014 sunset. The department cannot issue final BETC certificates after July 1, 2014.
For files in pass-through, the following applies:
- If there are no pass-through partners identified by June 9, 2014, the credits will be issued to the project owners along with a transmittal letter that explains why they are receiving the tax credit certificate, instructions on how to transfer the credit, and a reminder of the transfer fees.
- If there are pass-through partners identified, then we are using the usual process with a deadline to submit payments no later than June 23, 2014.
- If payment is received by June 23, we will process the applications as usual.
- If payment is NOT received by June 23, we will issue the credits to the project owners along with the transmittal letter described above. If partial payment is received, we will issue the credits to the partners and the balance to the project owner.