Conditions of Benefits

In its recommendation of specific tax benefits, the Authority shall consider the following as possible terms and conditions to such benefits:

(a)Percentage of Investment. Limiting the tax benefits to a percentage of the capital investment in Guam to be made by the Beneficiary;

(b)Variable Rate. Varying the rate of tax benefits over the term of the Qualifying Certificate;

(c)Limitation on Amount. Limiting the tax benefits to a fixed dollar amount;

(d)Public Investments. Conditioning the tax benefits on the Beneficiary’s investing in or creating public improvements separate from its proposed activities, including programs and projects sponsored or proposed by a village’s Mayor or Municipal Planning Council;

(e)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;

(f)Profit-Sharing, etc. Requiring the Beneficiary to establish profit-sharing and stock ownership programs and other similar benefits for its employees;

(g)Training. Requiring the Beneficiary to

(1)utilize locally-based and locally-owned training services as needed; or

(2)establish in-house training programs that consult with locally-based experts to ensure compliance of pertinent local rules and regulations as needed; or

(3)make contributions to an independent training or scholarship fund. Initial consideration for locally-owned, locally-based training businesses or services shall be given before considering and soliciting businesses or services outside of Guam.

(h)Local Purchaser. Requiring the Beneficiary to procure services or products supplied by Guamlicensed vendors 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 off-island vendors.

(i)Local Professional Advice and Support. Requiring the Beneficiary to procure and utilize Guam-licensed entities or employ Guam residents that provide professional advice and support in the areas of records access and legal services. Such service providers shall include, but not be limited to, accountants, attorneys and auditors. GEDA shall have the authority to determine which services are subject to this provision of law.