1.Section 74 and Schedule 27 make provision for carry forward provisions for community investment tax relief (CITR), for both individuals and corporate investors. They introduce a restriction for corporate investors of the amounts of relief they can receive under the scheme. This restriction is to ensure that the scheme comes within EU rules authorising unnotified State aid if it meets de minimis criteria.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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