12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 77 SPECIAL PROJECTS AND ACTIVITIES OF THE GUAM ECONOMIC DEVELOPMENT AUTHORITY

(a) The total amount of credits against excise taxes, not inclusive of those pledged for the Healthy Futures Fund, for the rehabilitation and improvement of the Harmon Industrial Park Roadway authorized herein shall not exceed the cumulative total of Three Million Dollars ($3,000,000) over a five (5) year period. The combined total of excise tax credits for the project shall not exceed Three Million Dollars ($3,000,000).

(b) If, at the expiration of the five (5) year period authorized pursuant to this Article, there are still unclaimed authorized tax credits, I Liheslaturan Guåhan may, in its discretion, extend the eligible period until such time that all eligible tax credits are exhausted.

(c) I Liheslaturan Guåhan may, in its discretion, extend the term and modify any part of the program based on future improvement plans and demand in this location.

(d) Construction and professional services and equipment and materials shall be competitively procured.

SOURCE: Added by P.L. 33-191:2 (Dec. 13, 2016). Subsection (a) and (b) amended by P.L. 34-010: 2 (June 7, 2017). Amended by P.L. 35-108:3 (Oct. 30, 2020).