ARM 8.97.801. PURPOSE

(1) The board is required by Title 90, chapter 8, MCA, to designate both "certified" and "qualified" Montana capital companies in the order that completed applications for designations as a "qualified" capital company are received by the board and as investments in the capital company are actually made. These rules establish the application procedure for initial designation of eligible entities as "certified" Montana capital companies and the application procedure for designation of "certified" capital companies as "qualified" Montana capital companies when a "certified" Montana capital company has been capitalized at a minimum level of $200,000. The rules also provide for allocation of the tax credits to individual investors.