Title 4 — Economic Resources
115 chapters · 1,861 sections in this title.
4 CMC § 10416 Public Debt Authorization
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH ECONOMIC DEVELOPMENT AUTHORITY § 10416. Public Debt Authorization. The Commonwealth Economic Development Authority is hereby authorized, subject to the approval of the board of trustees of the Marianas Public Land Trust, to bo…
4 CMC § 10451 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH ECONOMIC DEVELOPMENT AUTHORITY § 10451. Definitions. As used in this article: (a) “Authority” means the Commonwealth Economic Development Authority. (b) “Bonds” means general obligation bonds, notes, and other instruments of i…
4 CMC § 10452 Authorization to Issue: Amount
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10452. Authorization to Issue: Amount. The Authority may issue from time to time general obligation bonds of the Commonwealth, in an amount not exceeding the total amount of those bonds authorized to be…
4 CMC § 10453 Application of Proceeds
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10453. Application of Proceeds. (a) The proceeds of bonds so issued shall be devoted to the costs of issuance of the bonds, debt service reserves (if any), and any one or more of the following purposes …
4 CMC § 10454 Details of Bonds
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10454. Details of Bonds. (a) All bonds issued pursuant to this article shall bear interest at such rate or rates (fixed or variable), payable at such time or times; shall mature and be payable at such t…
4 CMC § 10455 Sale of Bonds
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10455. Sale of Bonds. (a) The Authority may make such arrangements as may be necessary or proper for the sale of each issue of bonds or part thereof as are issued pursuant to this article including, wit…
4 CMC § 10456 Form and Execution of Bonds
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10456. Form and Execution of Bonds. Bonds issued pursuant to this article shall be in such form as the Authority may determine, and shall be lithographed or steel engraved. All bonds issued pursuant to …
4 CMC § 10457 Signatures
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10457. Signatures. When bonds of the Commonwealth are prepared and signed (manually or by facsimile) by the chairman and the executive director of the Authority in office at the time of such signing, th…
4 CMC § 10458 CUSIP Numbers
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10458. CUSIP Numbers. (a) The Authority may provide that CUSIP identification numbers shall be imprinted on bonds issued pursuant to this part. In the event that CUSIP identification numbers are imprint…
4 CMC § 10459 Credit and Liquidity Facility; Swaps and Hedges; Investments
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10459. Credit and Liquidity Facility; Swaps and Hedges; Investments. Subject to the provisions of this article or the bond authorization act but notwithstanding any other provision of law, all of the fo…
4 CMC § 10460 Bonds Tax Exempt; First Charge on General Fund; Additional Security; Waiver of Sovereign Immunity
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10460. Bonds Tax Exempt; First Charge on General Fund; Additional Security; Waiver of Sovereign Immunity. (a) All bonds issued pursuant to this article and the income therefrom shall be exempt from all …
4 CMC § 10461 Payment, Principal and Interest
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10461. Payment, Principal and Interest. (a) When bonds issued pursuant to this article and the several interest amounts mature, the Authority shall pay the same. If the bonds or interest are made payabl…
4 CMC § 10462 Fiscal and Paying Agents and Registrars
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10462. Fiscal and Paying Agents and Registrars. The Authority may appoint such trustees, fiscal agents, tender agents, paying agents, and registrars, within and without the Commonwealth, as may be neces…
4 CMC § 10463 Federal Tax Exempt Status, Preference, Protection
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10463. Federal Tax Exempt Status, Preference, Protection. Bonds issued pursuant to this article, to the extent practicable, shall be issued to comply with requirements imposed by applicable law providin…
4 CMC § 10464 Bond Anticipation Notes
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10464. Bond Anticipation Notes. In anticipation of the issuance pursuant to this article of general obligation bonds authorized by the legislature and of the receipt of the proceeds of sale of those bon…
4 CMC § 10465 Refunding Bonds Authorized
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10465. Refunding Bonds Authorized. (a) Subject to the other provisions of this article, the Authority, without further authorization of the legislature, from time to time, for and in the name and on beh…
4 CMC § 10466 Bonds Negotiable, Incontestable
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TITLE 4: ECONOMIC RESOURCES DIVISION 10: COMMONWEALTH DEVELOPMENT AUTHORITY § 10466. Bonds Negotiable, Incontestable. This article, without reference to any other law except as provided herein, shall be full authority to issue or sell general obligation bonds of the Commonwealth,…
4 CMC § 1401 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1401. Definitions. For purposes of this chapter: (a) “Ad valorem” means the value of goods, commodities, resources or merchandise. (b) “Alcoholic beverage” means beer or other malt beverage, distilled alcoholic bevera…
4 CMC § 1402 Excise Tax
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TITLE 4: ECONOMIC RESOURCES § 1402 DIVISION 1: REVENUE AND TAXATION § 1402. Excise Tax. (a) General. For the privilege of first sale, use, manufacture, lease or rental of goods, commodities, resources, or merchandise in the Commonwealth for business purposes or for personal use e…
4 CMC § 1403 Fuel Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1403. Fuel Tax. (a) Liquid Fuel Tax. Except as provided in subsection (b) and (c) of this section, for the privilege of first selling or distributing fuel in the Commonwealth, there is imposed an excise tax at the rat…
4 CMC § 1404 Fuel Tax Exemption
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1404. Fuel Tax Exemption. The secretary may by regulation reduce or waive the fuel tax imposed under 4 CMC § 1403 where: (a) The price of aviation fuel without the aviation fuel tax would be more competitive than the …
4 CMC § 1405 Beverage Container Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1405. Beverage Container Tax. (a) Soft Drink Beverage Containers. There is imposed a tax upon all soft drink beverage containers in the amount of five cents per container. (b) Alcoholic Beverage Containers. There is i…
4 CMC § 1406 Exemption
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1406. Exemption. Any goods, commodities, resources, or merchandise subject to tax under this chapter and requiring customs inspection and clearance may be exempted from such tax if such goods, commodities, resources, …
4 CMC § 1407 Payment of Tax; Time; Release of Goods; Container Tampering
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1407. Payment of Tax; Time; Release of Goods; Container Tampering. (a) Generally. Except as provided in 4 CMC § 1407(b), all taxes required by this chapter shall be paid within 30 calendar days after the first sale, u…
4 CMC § 1408 Refunds: Exports
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1408. Refunds: Exports. Upon application to the secretary, any person who imports goods, commodities, resources, or merchandise into the customs territory of the Commonwealth for sale, use, lease or rental and exports…
4 CMC § 1409 Refunds: Limitation Period
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1409. Refunds: Limitation Period. Application for refund pursuant to 4 CMC § 1408 shall be filed with the secretary within one year from the date the tax was paid or required to be paid or goods, commodities, resource…
4 CMC § 1410 Declaration Required
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1410. Declaration Required. Any person who imports any goods, commodities, resources, or merchandise from outside the Commonwealth and is subject to excise tax imposed on those goods, commodities, resources, or mercha…
4 CMC § 1411 Environmental Beautification Tax
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1411. Environmental Beautification Tax. (a) Notwithstanding any other provision of law, a tax at the rate of .42 percent ad valorem is hereby assessed on all consumer goods as defined in § 1401(f). The tax shall be co…
4 CMC § 1412 Penalties
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1412. Penalties. The following penalties for this chapter are in addition to the other penalties provided by this division: (a) A penalty of 100 percent of the value of the goods, commodities, resources, or merchandis…
4 CMC § 1421 User Fees
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1421. User Fees. Any person requiring the certification of the Department of Finance for country of origin or other purposes relating to exports from the Commonwealth shall be charged a user fee. The user fee shall be…
4 CMC § 1422 Nonrefundable Credit
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1422. Nonrefundable Credit. A person may take the user fee imposed under 4 CMC § 1421 as a nonrefundable credit against the tax imposed on Commonwealth source income under Subtitle A of the NMTIT pursuant to chapter 7…
4 CMC § 1423 Authorization
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1423. Authorization. The secretary or his designee is hereby authorized to collect the fees provided in 4 CMC § 1421 when due and collectible. Source: PL 9-22, § 1 (§ 1422) (repealing PL 4-14, § 2); renumbered by PL 9…
4 CMC § 1424 Penalty
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1424. Penalty. Any failure to comply with the provisions of this article shall be subject to a civil penalty not to exceed $10,000 as may be determined by the secretary. This penalty is in addition to the other penalt…
4 CMC § 1425 Regulations
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1425. Regulations. The secretary or designee may promulgate regulations consistent with the purposes of this article. Source: PL 9-59, § 2. Commission Comment: With respect to the reference to the “secretary” of the D…
4 CMC § 1426 Certificate of Origin Denials [Deleted]
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1426. Certificate of Origin Denials [Deleted]. Source: PL 11-123, § 2; deleted by PL 17-1 § 6(A) (March 22, 2010)*. Commission Comment: The last sentence of this section is missing language prior to the cross-referenc…
4 CMC § 1427 No Double Taxation
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TITLE 4: ECONOMIC RESOURCES DIVISION 1: REVENUE AND TAXATION § 1427. No Double Taxation. Manufacturers (as defined in 4 CMC § 1103(n)) that pay the user fee set forth in this Article on goods produced or manufactured in the Commonwealth and exported shall not be subject to the Ta…
4 CMC § 3401 Definitions
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3401. Definitions. When used in this Act, the following terms have the meanings indicated: (a) “Board” means the CNMI Board of Accountancy established under section 3402 of this Act. (b) “Certificate” means a ce…
4 CMC § 3402 CNMI Board of Accountancy
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3402. CNMI Board of Accountancy. (a) There is hereby created the CNMI Board of Accountancy, which shall have responsibility for the administration and enforcement of this Act. The Board shall consist of five mem…
4 CMC § 3403 Appointment of Secretary of Commerce as Agent
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3403. Appointment of Secretary of Commerce as Agent. Application by a person or a firm not a resident of the CNMI for a certificate under section 3422 of this Act or a permit to practice under section 3423 shall…
4 CMC § 3411 Confidential Communications
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3411. Confidential Communications. Except by permission of the client engaging a licensee under this Act, or the heirs, successors, or personal representatives of such client, a licensee or any partner, officer,…
4 CMC § 3412 Licensees' Working Papers; Clients' Records
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3412. Licensees’ Working Papers; Clients’ Records. (a) All statements, records, schedules, working papers, and memoranda made by a licensee or a partner, shareholder, officer, director, member, manager or employ…
4 CMC § 3421 Qualifications for a Certificate as a Certified Public Accountant
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3421. Qualifications for a Certificate as a Certified Public Accountant. (a) The certificate of “certified public accountant” shall be granted to persons of good character who meet the education, experience and …
4 CMC § 3422 Issuance and Renewal of Certificates
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3422. Issuance and Renewal of Certificates. (a) The Board shall grant or renew certificates to persons who make application and demonstrate that their qualifications, including where applicable the qualification…
4 CMC § 3423 Firm Permits to Practice
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3423. Firm Permits to Practice. (a) The Board shall grant or renew permits to practice public accountancy to firms that make application and demonstrate their qualifications therefore in accordance with the foll…
4 CMC § 3424 Reinstatement
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3424. Reinstatement. (a) In any case where the Board has suspended or revoked a certificate or a permit or registration or refused to renew a certificate, permit, or registration, the Board may, upon application…
4 CMC § 3431 Enforcement Procedures: Investigations
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3431. Enforcement Procedures: Investigations. (a) The Board may, upon receipt of a complaint or other information suggesting violations of this Act or of the rules of the Board, conduct investigations to determi…
4 CMC § 3432 Enforcement Procedures: Hearings By the Board
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3432. Enforcement Procedures: Hearings By the Board. (a) In any case where probable cause with respect to a violation by a licensee has been determined by the Board, whether following an investigation under sect…
4 CMC § 3433 Enforcement Against Holders of Certificates, Permits, and Registrations
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3433. Enforcement Against Holders of Certificates, Permits, and Registrations. (a) After notice and hearing pursuant to section 3432 of this Act, the Board may revoke any certificate, permit, or registration iss…
4 CMC § 3434 Unlawful Acts
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3434. Unlawful Acts. (a) No person or firm not holding a valid certificate, permit or registration issued under sections 3422 or 3423 of this Act shall issue a report on financial statements of any other person,…
4 CMC § 3435 Injunctions Against Unlawful Acts
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TITLE 4: ECONOMIC RESOURCES DIVISION 3: BUSINESSES AND PROFESSIONS § 3435. Injunctions Against Unlawful Acts. Whenever, as a result of an investigation under section 3431 of this Act or otherwise, the Board believes that any person or firm has engaged, or is about to engage, in a…