§ 39-35-101. Short Title

This article shall be known and may be cited as the “Aviation Development Zone Act”. Source: L. 2005: Entire article added, p. 1490, § 1, effective August 8.

§ 39-35-102. Definitions

As used in this article, unless the context otherwise requires: “Aircraft manufacturer” means a business involved in the production of aircraft parts specifically used in the manufacture of aircraft or a business involved in the development of a proof of concept or prototype aircraft, a test and evaluation aircraft, a certification aircraft, or a production […]

§ 39-35-103. Zones Established

Any airport in the state may register with the office to become an aviation development zone. Only the area included within the boundaries of the airport shall be included in the aviation development zone. The office may establish procedures for the registration of airports as aviation development zones pursuant to this article. Source: L. 2005: […]

§ 39-35-104. Aircraft Manufacturer – Credit for New Employees

For any income tax year commencing on or after January 1, 2006, but before January 1, 2023, any aircraft manufacturer that is located in an aviation development zone in the state, that employs at least ten full-time employees within the zone, and that hires one or more new employees during the income tax year shall […]

§ 39-35-105. Reporting Requirements

Any aircraft manufacturer that claims a new employee income tax credit pursuant to section 39-35-104 shall file an annual progress report with the office and the department of revenue within ninety days of the end of the manufacturer’s income tax year. The annual progress report shall include, but shall not be limited to, the following: […]

§ 39-35-106. Repeal of Article

This article is repealed, effective January 1, 2024, unless it is continued or reestablished by the general assembly acting by bill prior to said date. Source: L. 2005: Entire article added, p. 1494, § 1, effective August 8. L. 2013: Entire section amended, (HB 13-1080), ch. 211, p. 886, § 4, effective August 7. Cross […]