§ 44-71-6. Administration.
(a) Upon issuance of the eligibility statement the department shall, on behalf of the
State of Rhode Island, award tax credits and issue tax credit certificates in the
amount authorized and allocated in accordance with the eligibility statement and the
tax credit agreement. The department shall provide copies of eligibility statements
and tax credit certificates to the division of taxation within thirty (30) days of
issuance, including copies of all eligibility statements and tax credit certificates
that are reissued, transferred, sold, or assigned.
(b) The owner of
Free access — add to your briefcase to read the full text and ask questions with AI
§ 44-71-6. Administration.
(a) Upon issuance of the eligibility statement the department shall, on behalf of the
State of Rhode Island, award tax credits and issue tax credit certificates in the
amount authorized and allocated in accordance with the eligibility statement and the
tax credit agreement. The department shall provide copies of eligibility statements
and tax credit certificates to the division of taxation within thirty (30) days of
issuance, including copies of all eligibility statements and tax credit certificates
that are reissued, transferred, sold, or assigned.
(b) The owner of a qualified Rhode Island project eligible for the Rhode Island low-income
housing tax credit shall submit, at the time of filing the project owner's state tax
return, the original tax credit certificate issued by the department with respect
to such qualified Rhode Island project. In the case of failure to attach the tax credit
certificate, a credit under this section shall not be allowed with respect to such
qualified Rhode Island project for that year until the original tax credit certificate
is provided to the division of taxation.