{"data":{"id":"us-gu/12-gca-80107","jurisdiction":"us-gu","citation":"12 GCA § 80107","heading":"Conditions of Exemptions.","body":"In its recommendation of specific exemptions and tax benefit, the Authority shall require the following as terms and conditions to such benefit and exemptions:\n(1) Percentage of Investment. Limiting the tax benefits and exemptions to a percentage of the capital investment in Guam to be made by the Beneficiary;\n(2) Local Shareholders. Requiring the Beneficiary to offer ten percent (10%) or more of its corporate equity to qualified residents of Guam on terms and conditions to be established by the Authority;\n(3) Profit-sharing, etc. Requiring the Beneficiary to establish profit-sharing and stock ownership programs and other similar benefits for its employees;\n(4) Training. Requiring the Beneficiary to: (i) establish in-house training programs or (ii) make contributions to an independent training or scholarship fund; and\n(5) Local Purchaser. Requiring the Beneficiary to procure services or products supplied by resident business enterprises if the total cost of the same does not exceed one hundred ten percent (110%) of the cost of the same services or products available from any other vendor.","path":["Title 12: Autonomous Agencies","Division 2 - Economic Development","Chapter 80: Commuter Air Services Development"],"source_url":"https://col.guamcourts.gov/sites/default/files/12gc080.pdf","current_through":"P.L. 38-133 (June 4, 2026)","vintage":"","retrieved_at":"2026-09-27T03:26:58Z","sha256":"0a59dce3254a9d03b5199a7d85f6d16959bf3bf00ae88ad410b95641b6a20570","source_id":"us-gu","stale":false,"prev":"us-gu/12-gca-80106","next":"us-gu/12-gca-80108"},"notice":"GroundRules: Original legal text. Not legal advice."}