GroundRules
12 GCA § 77601: Credit Against Eligible Taxes.
Where this section sits in the code
- Title 12: Autonomous Agencies
- Division 2 - Economic Development
- Chapter 77: Special Projects and Activities of the Guam Economic Development Authority
- ARTICLE 6: TAX CREDITS FOR THE TIYAN GYMNASIUM
(a) To the extent that any business contributes the actual cost of design, labor and materials that are for the rehabilitation and improvement of the Department of Parks and Recreation (DPR) Tiyan Gymnasium and facilities, it shall be entitled to credit of business privilege taxes that are not already pledged for any purpose by Guam law. The basis for contribution to the project shall be the actual cost of the contribution plus the cost of transportation from the point of origin to its destination.
(b) Any unused credits not used in the current tax period may be carried over into subsequent tax periods until such credits are exhausted.
(c) The total credits allowed under this Act shall not exceed the actual dollar amount of the expenditures on the project.
Collected 2026-09-27T03:26:28Z. Source file · JSON