§ 42-64.22-3. Establishment of program.
(a) The Tax Stabilization Incentive Program is hereby created to provide incentives to Rhode Island municipalities to enter into qualifying property tax stabilization agreements in connection with qualifying projects set forth herein.
(b) Under the program, qualified and Hope Communities in the state of Rhode Island that grant qualifying tax stabilization agreements, subject to the provisions of § 44-3-9, in connection with a qualifying project, may apply to the commerce corporation for certification for partial reimbursement of the amount of real estate taxes and/or personal property taxes that would have otherwise been paid had the qualified and/or hope communities not granted said tax stabilization agreement.
History of Section.P.L. 2015, ch. 141, art. 19, § 5.
Structure Rhode Island General Laws
Title 42 - State Affairs and Government
Chapter 42-64.22 - Tax Stabilization Incentive
Section 42-64.22-1. - Findings and declarations.
Section 42-64.22-2. - Definitions.
Section 42-64.22-3. - Establishment of program.
Section 42-64.22-4. - Incentives for municipalities.
Section 42-64.22-5. - Eligibility requirements for qualifying communities.
Section 42-64.22-6. - Eligibility requirements for hope communities.
Section 42-64.22-7. - Alternative eligibility requirements.
Section 42-64.22-8. - Reimbursement.
Section 42-64.22-9. - Applicability.
Section 42-64.22-10. - Approval.
Section 42-64.22-11. - Restrictions.
Section 42-64.22-12. - Implementation guidelines, directives, criteria, rules, regulations.
Section 42-64.22-13. - Program integrity.