(A) To qualify for the benefits provided in this chapter, a business must be located within this State and must:
(1) be engaged primarily in a business of the type identified in Section 12-6-3360;
(2) provide a benefits package, including health care, to full-time employees at the project;
(3) enter into a revitalization agreement that is approved by the council and that describes a minimum job requirement and minimum capital investment requirement for the project as provided in Section 12-10-90; and
(4) have negotiated incentives that council has determined are appropriate for the project, and the council shall certify that:
(a) the total benefits of the project exceed the costs to the public; and
(b) the business otherwise fulfills the requirements of this chapter.
(B) To qualify for benefits pursuant to Section 12-10-95, a business must:
(1) be engaged in manufacturing or processing operations or technology intensive activities at a manufacturing, processing, or technology intensive facility as defined in Section 12-6-3360(M);
(2) provide a benefits package, including health care, to employees being retrained; and
(3) enter into a retraining agreement with the council.
HISTORY: 1995 Act No. 25, Section 1; 1996 Act No. 462, Section 16; 1999 Act No. 114, Section 5; 2000 Act No. 399, Section 3(B)(3), eff August 17, 2000; 2001 Act No. 89, Section 14, eff July 1, 2001.