Taxes Consolidation Act 1997 section 340

Designated areas, designated streets and enterprise areas

Section 340 empowers the Minister for Finance to designate by order specific areas, streets and enterprise areas (including locations adjacent to certain regional airports) for the purposes of the urban renewal tax relief scheme in this Chapter, and to fix the qualifying period applying to each such designation.

• The Minister for Finance, after consulting the Minister for the Environment and Local Government, may by order designate areas and streets as designated areas, designated streets or enterprise areas.
• For ordinary designated areas and streets, the qualifying period specified in the order cannot start before 1 August 1994 or end after 31 July 1997 (subject to extension under section 339(2)).
• Enterprise areas adjacent to seven named regional airports may also be designated, after consultation with the Minister for Public Enterprise and on foot of a proposal from a prospective qualifying company.
• For airport enterprise areas, the qualifying period cannot start before 1 August 1994 or end after 30 June 2000; every order under this section must be laid before Dáil Éireann and is open to annulment within 21 sitting days.