Code of Massachusetts Regulations 429 CMR - EXECUTIVE OFFICE OF LABOR AND WORKFORCE DEVELOPMENT
The Code of Massachusetts Regulations (CMR) Title 429 pertains to the Executive Office of Labor and Workforce Development (EOLWD). This title encompasses regulations that guide the EOLWD's initiatives, including workforce development programs and economic assistance efforts.(llmc.com)
Key Regulation: 429 CMR 2.00 – Manufacturing Workforce Training Tax Increment Financing (MWT-TIF)
One of the primary regulations under Title 429 is 429 CMR 2.00, which establishes the Manufacturing Workforce Training Tax Increment Financing (MWT-TIF) program. This program aims to encourage increased commercial growth of manufacturing facilities that have been located in a city or town for not less than two years. It allows municipalities to designate areas as MWT-TIF Zones and develop plans to provide property tax incentives to support workforce training and development in the manufacturing sector.(regulations.justia.com, mass.gov)
The regulation outlines the procedures for:(mass.gov)
Designating MWT-TIF Zones
Developing MWT-TIF Plans
Certifying MWT-TIF Plans
Obtaining local approval and implementing MWT-TIF Plans
Revoking MWT-TIF Plans if necessary
Maintaining records and documents related to the program
Ensuring project completion(regulations.justia.com, regulations.justia.com)
The regulation is authorized under M.G.L. c. 40, § 60A and aims to facilitate the financing of workforce training projects through property tax incentives.(regulations.justia.com)
For more detailed information, you can access the full text of 429 CMR 2.00 here: (mass.gov)
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