§ 494. Application and approval process. 1. A business entity must
submit a complete application as prescribed by the commissioner.

2. The commissioner shall establish procedures and a timeframe for
business entities to submit applications. As part of the application,
each business entity must:

(a) provide evidence in a form and manner prescribed by the
commissioner of their business eligibility;

(b) agree to allow the department of taxation and finance to share the
business entity's tax information with the department;

(c) agree to allow the department of labor to share its tax and
employer information with the department. However, any information
shared as a result of this program shall not be available for disclosure
or inspection under the state freedom of information law;

(d) allow the department and its agents access to any and all books
and records the department may require to monitor compliance; and

(e) agree to provide any additional information required by the
department relevant to this article.

3. After reviewing a business entity's completed final application and
determining that the business entity meets the eligibility criteria as
set forth in this article, the department may issue to that business
entity a certificate of tax credit. A business entity may claim the tax
credit.