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4- <br /> the <br /> the recipient within one week of the filing date. The law allows that if, after 14 days of tlik- <br /> postmarked date of the warning, the recipient fails to provide the required report, the <br /> recipient must pay the City a penalty of $100 for each day that the report is not received until <br /> the report is filed. The maximum penalty that the City can assess is $1,000. <br /> Report by the Grantors. The City is then required to file a report with the Commissioner by <br /> April 1 of each year regardless if the City has or has not awarded any business subsidies in the <br /> previous year. If the City fails to comply with the reporting requirements, the Commissioner <br /> will issue a warning stating that the City must comply by June 1. If the City fails to meet this <br /> deadline, no business subsidies may be awarded until the City's report has been filed. <br /> As part of the report that the City will be required to file, the City must also submit a list of <br /> recipients that did not complete the report; recipients that have not met their job and wage <br /> goals within 2 years; and the steps being taken to bring them into compliance or to recoup the <br /> subsidy. <br /> Effective Date. These requirements are in effect August 1, 1999 and pertain only to those <br /> business subsidies entered into on or after this date. <br />