Guam § 80107 - Conditions of Exemptions.

§ 80107. Conditions of Exemptions.

In its recommendation of specific exemptions and tax benefit, the

Authority shall require the following as terms and conditions to such

benefit and exemptions:

(1) Percentage of Investment. Limiting the tax benefits and

exemptions to a percentage of the capital investment in Guam to be

made by the Beneficiary;

(2) Local Shareholders. Requiring the Beneficiary to offer ten

percent (10%) or more of its corporate equity to qualified residents

of Guam on terms and conditions to be established by the Authority;

(3) Profit-sharing, etc. Requiring the Beneficiary to establish

profit-sharing and stock ownership programs and other similar

benefits for its employees;

(4) Training. Requiring the Beneficiary to: (i) establish in-

house training programs or (ii) make contributions to an

independent training or scholarship fund; and

(5) Local Purchaser. Requiring the Beneficiary to procure

services or products supplied by resident business enterprises if the

total cost of the same does not exceed one hundred ten percent

(110%) of the cost of the same services or products available from

any other vendor.