§ 42-64.30-6. Administration.
(a) To be eligible to receive a tax credit authorized by this chapter, an existing Rhode
Island business shall apply to the commerce corporation for approval prior to the
qualified business commencing a relocation search within the state for a certification
that the existing Rhode Island business qualifies for tax credits under this chapter.
Such approval shall require:
(1) That the qualified business has submitted a completed application as developed by
the commerce corporation;
(2) That the chief executive officer of the comme
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§ 42-64.30-6. Administration.
(a) To be eligible to receive a tax credit authorized by this chapter, an existing Rhode
Island business shall apply to the commerce corporation for approval prior to the
qualified business commencing a relocation search within the state for a certification
that the existing Rhode Island business qualifies for tax credits under this chapter.
Such approval shall require:
(1) That the qualified business has submitted a completed application as developed by
the commerce corporation;
(2) That the chief executive officer of the commerce corporation provide written confirmation
to the commerce corporation board that (i) the commerce corporation has reviewed the
application and any determination regarding the potential impact on the qualified
business's ability to promote the retention and expansion of existing jobs, stimulate
the creation of new jobs, including good-paying jobs, attract new business and industry
to the state, and stimulate growth in real estate developments and/or businesses that
are prepared to make meaningful investment and foster job creation in the state; and
(ii) of the recommendation of the commerce corporation as to the total credits to
be awarded to the applicant; and
(3) That the secretary of commerce provide written confirmation to the commerce corporation
board that the recommendation of the commerce corporation is consistent with the purposes
of this chapter.
(b) The commerce corporation and the division of taxation shall be entitled to rely on
the facts represented in the application and upon the certification of a certified
public accountant licensed in the state of Rhode Island with respect to the requirements
of this chapter.
(c) The tax credits provided for under this chapter shall be granted at the discretion
of the commerce corporation.
(d) If information comes to the attention of the commerce corporation at any time up to
and including the last day of the eligibility period that is materially inconsistent
with representations made in an application, the commerce corporation may deny the
requested certification, or revoke a certification previously given, with any processing
fees paid to be forfeited.