§ 44-48.3-12. Discontinuance of further rate reductions and future beneficiaries under the jobs development act.
(a) The rate reduction(s) provided pursuant to chapter 64.5 of title 42 shall be discontinued effective July 1, 2015, except as provided in subsection (b) of this section.
(b) Any company that has qualified for a rate reduction pursuant to chapter 64.5 of title 42 prior to July 1, 2015, shall be entitled to maintain the rate reduction in effect as of June 30, 2015, and no additional rate reduction shall be permitted. All obligations of the company required under chapter 64.5 of title 42 to retain a rate reduction shall remain in full force and effect.
History of Section.P.L. 2015, ch. 141, art. 19, § 15.
Structure Rhode Island General Laws
Chapter 44-48.3 - Rhode Island New Qualified Jobs Incentive Act 2015
Section 44-48.3-1. - Short title.
Section 44-48.3-2. - Findings and declaration.
Section 44-48.3-3. - Definitions.
Section 44-48.3-4. - Rhode Island qualified jobs incentive program.
Section 44-48.3-5. - Incentive agreement required prior to issuance of tax credits.
Section 44-48.3-6. - Total amount of tax credit for eligible business.
Section 44-48.3-7. - Documentation.
Section 44-48.3-8. - Carry forward, transfer or redemption of tax credits, redemption fund.
Section 44-48.3-9. - Administration.
Section 44-48.3-10. - Limitations.
Section 44-48.3-11. - Program integrity.