(A) In the case of an incentive, upon agreement with the city, through its Mayor, the approved company shall:
(1) Require that each employee subject to the city's occupational tax, as a condition of employment, agree to pay a job development assessment fee, up to the amount of the incentive approved by the city, and not to exceed 0.5% of all compensation earned by an employee for labor, work or services provided in the city, whose job was created as a result of the economic development project in the case of a five year incentive, or 0.25% of all compensation earned by an employee for labor, work or services provided in the city, whose job was created as a result of the economic development project in the case of a ten year incentive; or
(2) Withhold and remit to the city the full amount of the occupational license tax from its approved company employees consistent with all applicable laws and ordinances, and receive a reimbursement from the city of the incentive in the form of a refund at the end of each incentive year.
(B) Should the approved company elect to collect its incentive by means of a job development assessment fee as provided in division (A)(1):
(1) The approved company shall be authorized to deduct the assessment, consistent with the terms of division (A)(1), from each paycheck of each approved company employee;
(2) Each employee so assessed shall be entitled to a credit against the city occupational tax thereof equal to the job development assessment fee withheld from his or her wages during the calendar year.
(C) Should the approved company elect to collect its incentive from the city by withholding and remitting to the city the full amount of the occupational license fee from its employees as provided in division (A)(2), the city, upon satisfaction that the approved company has met all of the terms and requirements of the agreement, shall then remit the incentive to the approved company within 90 days after the end of each incentive year.
(D) Any approved company receiving an incentive shall make its payroll book and records available to the city at such reasonable times as the city shall request, and shall file with the city documentation respecting any employee assessment as the city may require.
(Ord. 2011-09, passed 7-11-11)