Annual Reporting Requirements

The Legislature charges DECD with collecting information necessary to administer the following Tax Incentive and Tax Credit Programs:

  • Pine Tree Development Zone (PTDZ)
  • Employment Tax Increment Financing (ETIF)
  • Major Business Headquarters Expansion 
  • Major Food Processing Manufacturing Expansion
  • Shipbuilding Facility Investment Tax Credit

                  Program Name

Applicant Report Due to DECD

DECD Report Due to Legislature

Employment Tax Increment Financing (ETIF)

April 15th of each calendar year

N/A***

Major Business Headquarter Expansion

March 1st of each calendar year

April 1st of each calendar year*

Major Food Processing Manufacturing Expansion

March 1st of each calendar year

April 1st of each calendar year*

Pine Tree Development Zone (PTDZ)

April 15th of each calendar year

June 1st of each calendar year***

Shipbuilding Facility Tax Investment

March 1st of each calendar year

April 1st of each calendar year**

 

*The Commissioner of DECD must provide copies of the report to the State Tax Assessor and the joint standing committee of the Legislature having jurisdiction over tax matters at the time the report is received.

By April 1st of each year, the commissioner shall report to the joint standing committee of the Legislature having jurisdiction over tax matters aggregate data on employment levels and qualified investment amounts of certified applicants for each year.

**The commissioner of DECD shall provide copies of the report to the State Tax Assessor and to the joint standing committee of the Legislature having jurisdiction over taxation matters at the time the report is received.

On or before April 1st annually, the commissioner shall report to the joint standing committee of the Legislature having jurisdiction over taxation matters aggregate data, with detail consistent with information required of certified applicants on employment levels and qualified investment amounts of certified applicants for each year beginning with expenditures incurred on or after January 1, 2018.

    ***To ensure full program compliance, PTDZ and ETIF reporting is mandatory.  Failure to file the required annual reports       will result in termination from the programs.