Miscellaneous

The tax credits authorized by this Act shall be subject to the following conditions:

(a)Tax credits that cannot be applied during a single tax year may be applied to excise tax liability in subsequent years.

(b)A single contributor shall only be entitled to claim tax credits up to Twenty-Five Thousand Dollars ($25,000.00) per month, not to exceed Three Hundred Thousand Dollars ($300,000.00) per year or tax credits shall not be applied to more than fifty percent (50%) of the contributor’s monthly excise tax liability.

(c)To be eligible for the tax credits authorized by this Article, contributors must be licensed to do business on Guam. CH. 77 SPECIAL PROJECTS AND ACTIVITIES OF THE GUAM ECONOMIC DEVELOPMENT AUTHORITY