Chap. 719.          AN    ACT    FURTHER    REGULATING    THE    URBAN

JOBS INCENTIVE BUREAU.

Whereas, The deferred operation of this act would tend to defeat its purpose, which is to immediately regulate the urban jobs incentive bureau, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience._________________

Be it enacted,   etc.,   as follows:

SECTION 1. Section 15 of chapter 23B of the General Laws is hereby further amended by adding, immediately following subsection   (g),  the following subsection:-

(H) Notwithstanding any provision of general or special law to the contrary, a corporation which has been granted a certificate as an eligible business facility, pursuant to this section, prior to March twenty-third nineteen hundred and eighty-three shall not be denied a renewal or extension of such certificate because the eligible business facility ceases to conform with subsection two of section thirteen provided that all other conditions for the renewal and extension of certificate of eligible business facility are met.

SECTION 2. Chapter 63 of the General Laws is hereby amended by striking out section 38F, as most recently amended by section 2 of chapter 69 of the acts of 1978, and inserting in place thereof the following section:-

Section 38F. In determining the net income subject to tax under this chapter, a domestic or foreign corporation may deduct, in addition to any other allowable deduction under this chapter, an amount equal to twenty-five per cent of the compensation paid during the taxable year to individuals employed in an eligible business facility, as defined in section eleven of chapter twenty-three B,  and either:

(0 domiciled in an eligible section of substantial poverty as defined in section eleven of chapter twenty-three  B; or

(jj) domiciled in an area which had been certified as such an eligible section of substantial poverty when the corporation first received a certificate of eligibility; provided, however, such individuals still live in the same city or town;

and provided further such corporation has a certificate of eligibility with respect to such facility for the taxable year issued by the urban jobs incentive bureau of the department of commerce and development. No deduction under this section shall exceed five thousand dollars for any qualifying individual.

SECTION 3.     Sections    one    through     three,     inclusive,     shall

apply   to   taxable   years   commencing   on   or   after  January   first, nineteen hundred and seventy-eight.

SECTION 4. Section four of chapter two hundred and thirty-three of the acts of nineteen hundred and eighty-three shall apply to taxable years commencing on or after January first, nineteen hundred and seventy-eight.

Approved January 10,  1984.