§ 44-48.3-2. Findings and declaration.
(a) It is hereby found and declared that due to long-term and short-term negative economic trends in Rhode Island, businesses in the state have found it difficult to make investments that would stimulate economic activity and create new jobs. This situation has contributed to a rate of unemployment in Rhode Island that is higher than our neighbors and among the highest in the nation. Consequently, a need exists to promote the creation of new jobs, attract new business and industry, and stimulate growth in businesses that are prepared to make meaningful investment and foster job creation in Rhode Island.
(b) Through the establishment of a jobs incentive program, Rhode Island can take steps to stimulate business expansion and attraction, create well-paying jobs for its residents, and generate revenues for necessary state and local governmental services.
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.