§ 45-33.2-2. Legislative findings.
It is found and declared that for the public health, safety, morals, and welfare of the people of the state generally, the increase of their commerce, welfare, and prosperity and the improvement of their housing, employment and educational opportunities and general living conditions, as well as in order to remedy the conditions found to exist in the state as declared in § 45-31-3, it is essential to provide new employment opportunities to prevent, arrest, and alleviate blighted, decayed, and substandard areas in cities and towns, to increase the supply of housing available to homeowners and to tenants at low rentals, to increase the tax base, to encourage the development of undeveloped land in the town of West Greenwich, and to improve the general economy of the state; and that it is the purpose of this chapter to provide an additional and alternative means to cities and towns to fund and/or finance municipal and other public facilities and residential, commercial and industrial development and revitalization, home ownership; and programs to combat poverty, improve municipal and neighborhood living conditions and provide improved employment and educational opportunities, all to the public benefit and good, in the manner provided in this chapter.
History of Section.P.L. 1984, ch. 78, § 1; P.L. 1992, ch. 424, § 1; P.L. 1999, ch. 506, § 1.
Structure Rhode Island General Laws
Chapter 45-33.2 - Municipal Tax Increment Financing Act
Section 45-33.2-1. - Short title.
Section 45-33.2-2. - Legislative findings.
Section 45-33.2-3. - Definitions.
Section 45-33.2-3.1. - Additional definitions.
Section 45-33.2-4. - Adoption of project plan.
Section 45-33.2-5. - Authorization to undertake projects — Powers.
Section 45-33.2-6. - Issuance of special obligation bonds.
Section 45-33.2-7. - Security for bonds — Trust agreements.
Section 45-33.2-8. - Pledge of project revenues validated.
Section 45-33.2-9. - Temporary anticipation notes.
Section 45-33.2-10. - Refunding bonds.
Section 45-33.2-11. - Credit of municipality not pledged.
Section 45-33.2-12. - Investment of funds.
Section 45-33.2-13. - Trust funds.
Section 45-33.2-14. - Remedies of bondholders and noteholders.
Section 45-33.2-15. - Bonds and notes as legal instruments.
Section 45-33.2-16. - Bonds and notes as investment securities.
Section 45-33.2-17. - Exemption from taxation.
Section 45-33.2-18. - Annual report.
Section 45-33.2-19. - Provisions supplementary.
Section 45-33.2-20. - Severability.
Section 45-33.2-21. - Tax limitations.
Section 45-33.2-22. - Alternate tax increment provisions.
Section 45-33.2-24. - Reserved.
Section 45-33.2-25. - Planning commission advisory opinion — Conditions for tax increment district.
Section 45-33.2-26. - Adoption of tax increment district master plan.
Section 45-33.2-27. - Designation of tax increment revenues.