Sec.12-217ll-6. Application for issuance of a digital animation production company tax credit voucher; independent audit

(a) A state-certified digital animation production company may apply to the Commission for issuance of a tax credit voucher(s) not more than twice in any income year on such forms as the Commission may prescribe. Upon the Commission's determination that the applicant has satisfied all the criteria for issuance of a tax credit voucher(s), the Commission shall certify the total production expenses or costs incurred during the period encompassed by the cost report and the actual amount of the tax credit awarded to the applicant. The Commission shall not award digital animation production company tax credits which exceed in the aggregate the state fiscal year cap as provided in subsection (g) of section 12-217ll of the Connecticut General Statutes.

(b) With each application for a tax credit voucher the applicant shall file with the Commission the detailed cost report together with an audit report of such cost report.

(Adopted effective February 5, 2009)