{"data":{"id":"us-gu/12-gca-771103","jurisdiction":"us-gu","citation":"12 GCA § 771103","heading":"Cap on Business Privilege Tax Credits for Required Medical Equipment at the Guam Memorial Hospital Authority.","body":"(a) The total amount of credits against unpledged business privilege taxes for medical equipment needs of the GMHA authorized herein shall not exceed Five Million Dollars ($5,000,000) over a five (5)-year period. No more than Five Hundred Thousand Dollars ($500,000) in tax credits shall be authorized for each year of the program. The five-year period will begin in the first fiscal year I Liheslaturan Guåhan allocates One Million Dollars ($1,000,000) from unpledged business privilege taxes through the budget act. This period will continue to count in each subsequent fiscal year as long as this One Million Dollars ($1,000,000) appropriation is maintained in future budget acts.\n(b) If, at the expiration of the five (5)-year period authorized pursuant to this Article, there are still unclaimed authorized tax credits, then I Liheslaturan Guåhan may, in its discretion, extend the eligible period until such time that all eligible tax credits are exhausted.\n(c) I Liheslaturan Guåhan may, in its discretion, extend the term and modify any part of the program.\n(d) Medical equipment purchases shall be competitively procured.","path":["Title 12: Autonomous Agencies","Division 2 - Economic Development","Chapter 77: Special Projects and Activities of the Guam Economic Development Authority","ARTICLE 11: TAX CREDITS FOR THE GUAM MEMORIAL HOSPITAL AUTHORITY"],"source_url":"https://col.guamcourts.gov/sites/default/files/12gc077_Q.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:26:28Z","sha256":"c76c85deb7c493387c4e6ca8d3fa411ca3435147e76c42f927902486bab784d0","source_id":"us-gu","stale":false,"prev":"us-gu/12-gca-771102","next":"us-gu/12-gca-771104"},"notice":"GroundRules: Original legal text. Not legal advice."}