Section 2696.22 - DefinitionsFor purposes of this subchapter, the following definitions apply:
(a) "Applicant" means either (1) an organization seeking CDFI certification, or (2) a CDFI seeking a tax credit certificate from COIN, as indicated by the context of the provision where the word appears.(b) "Application" means either (1) documents submitted by the deadline specified by COIN by which an organization requests certification by COIN, or (2) documents submitted by the deadline specified by COIN by which a CDFI requests a tax credit certificate, as indicated by the context of the provision in which the word appears. "Application" also includes any documents submitted after the deadline at the request of COIN or with COIN's consent.(c) "California Organized Investment Network" ("COIN") means the unit within the Department of Insurance that reviews applications for CDFI certification and applications for CDFI tax credit certificates.(d) "CDFI" means community development financial institution.(e) "Certification" means the status conferred by COIN on a CDFI authorizing the CDFI to receive qualified investments and apply for tax credits on behalf of taxpayers.(f) "COIN" means the California Organized Investment Network.(g) "Certified CDFI" means a CDFI that COIN has authorized to apply for tax credits under the program.(h) "Community development financial institution" ("CDFI") has the meaning specified in sections 12209(h)(2), 17053.57(g)(2) and 23657(g)(2) of the Revenue and Taxation Code.(i) "Department" means the California Department of Insurance.(j) "Green investment" has the meaning specified in Section 926.1(e) of the Insurance Code.(k) "High unemployment area" means a county with an unemployment rate 25 percent higher than the California average unemployment rate, if that statewide rate is less than 10%. "High unemployment area" means a county with an unemployment rate 15 percent higher than the California average unemployment rate, if that statewide rate is greater than 10%.(l) "Insurer" means organizations holding a certificate of authority from the Department, admitted reciprocal exchanges and home protection companies.(m) "Low-to-moderate Income" ("LMI") means "low-income" and "moderate- income" as those terms are defined in Section 926.1 of the Insurance Code.(n) "Low-to-moderate income area" means a geographical area in which the median household income is less than 80% of the statewide average.(o) "Program" means all acts and duties related to the purposes or requirements of sections 12209, 17053.57 and 23657 of the Revenue and Taxation Code.(p) "Qualified investment" has the meaning specified in sections 12209(h)(1), 17053.57(g)(1) and 23657(g)(1) of the Revenue and Taxation Code.(q) "Rural area" means any open country or any place, town, village, or city which by itself and taken together with any other places, towns, villages, or cities that it is part of or associated with: (a) has a population not exceeding 10,000; or(b) has a population not exceeding 20,000 and is contained within a nonmetropolitan area. "Rural area" additionally includes any open country, place, town, village, or city located within a Standard Metropolitan Statistical Area (as defined in section 926.1(i) of the Insurance Code) if the population thereof does not exceed 20,000 and the area is not part of, or associated with, an urban area and is rural in character.(r) "Tax credit" means the credit against the amount of tax referred to in sections 12209, 17053.57 and 23657 of the Revenue and Taxation Code.(s) "Tax credit certificate" ("certificate") means the document provided by COIN to a taxpayer documenting the awarding of a tax credit in a certain amount on a certain date.(t) "Tax credit issuance cycle" ("cycle") means the period that begins when COIN publishes a due date for submittal of applications for certificates and ends when COIN has issued all certificates COIN intends to issue in response to those applications.(u) "Taxpayer" means any person or organization eligible to receive a tax credit pursuant to sections 12209, 17053.57 or 23657 of the Revenue and Taxation Code.Cal. Code Regs. Tit. 10, § 2696.22
1. New section filed 6-26-2014; operative 6-26-2014 (Register 2014, No. 26). Pursuant to Revenue and Taxation Code section 12209(f)(2) this is a deemed emergency, and pursuant to Revenue and Taxation Code section 12209(f)(3) this emergency regulation "shall remain in effect until amended or repealed by the department." Note: Authority cited: Sections 12209(f), 17053.57(d) and 23657(e), Revenue and Taxation Code. Reference: Sections 12209, 17053.57 and 23657, Revenue and Taxation Code; and Sections 926.1 and 12939, 12939.1 and 12939.2, Insurance Code.
1. New section filed 6-26-2014; operative 6/26/2014 (Register 2014, No. 26). Pursuant to Revenue and Taxation Code section 12209(f)(2) this is a deemed emergency, and pursuant to Revenue and Taxation Code section 12209(f)(3) this emergency regulation "shall remain in effect until amended or repealed by the department."