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Industrial Facility Exemption
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If an IFT certificate is granted for less than 12 years as provided by section 16a of the Act, can the term of the certificate be extended?
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Answer:
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Sometimes local units grant less than the 12-year maximum term when granting IFT exemptions based on criteria they have adopted. (See section 16a of the Act.) Some local units wish to allow extensions beyond the original term granted and some do not. A local unit may wish to state in its original resolution the number of years being granted and include an extension provision which contains the criteria to be used to determine whether someone qualifies for an extension. This could be done at the start of the IFT exemption process.
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