Among the 12 bills signed into law by Governor Eddie Calvo Wednesday was Senator Mana-Sliva Taijeron’s Bill 342 which expands eligibility for Qualifying Certificates [QC] to “green” businesses.
The QC program is administered by the Guam Economic Development Authority and provides tax credits to qualifying businesses.
The new law would extend eligibility for those tax credits to companies that adopt energy efficient technologies or renewable energy or provide environmental cleanup services.
A release quotes Senator Silva-Taijeron as saying: “This law gives businesses and off-island investors that promote environmentalism and green technology an opportunity to expand our economy, which will create jobs and increase industry while protecting our environment.”
READ the release from Senator Silva-Taijeron in FULL below:
New Law Expands QC Eligibility to “Green” Businesses
FOR IMMEDIATE RELEASE
May 11, 2012
FOR IMMEDIATE RELEASE
May 11, 2012
Bill 342-31, introduced by Senator Mana Silva Taijeron, was recently signed into law by Governor Eddie Baza Calvo. The bill, now PL 31-207, extends Qualifying Certificate (QC) eligibility to businesses that promote the protection of Guam’s natural resources. QCs, administered by the Guam Economic Development Authority, are granted on the basis of investment commitment, the potential for creating new employment and the expansion of island industries.
“I thank the Governor for signing PL 31-207,” said Senator Silva Taijeron. “This law gives businesses and off-island investors that promote environmentalism and green technology an opportunity to expand our economy, which will create jobs and increase industry while protecting our environment.”
The law will extend QC eligibility to industries and activities including energy efficiency, renewable energy and environmental cleanup.