Terms Used In Rhode Island General Laws 42-64.26-7

• Award: means a tax credit awarded by the commerce corporation to an applicant as provided under this chapter. See Rhode Island General Laws 42-64.26-3
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Eligibility requirements: means the following qualifications or criteria required for an applicant to claim an award under this chapter:

  (i)  That the applicant shall have graduated from an accredited two-year (2), four-year (4) or graduate postsecondary institution of higher learning with an associate's, bachelor's, graduate, or post-graduate degree and at which the applicant incurred education loan repayment expenses;

  (ii)  That the applicant shall be a full-time employee with a Rhode Island-based employer located in this state throughout the eligibility period, whose employment is:

  (A)  For work in one or more of the following covered fields: life, natural or environmental sciences; computer, information or software technology; advanced mathematics or finance; engineering; industrial design or other commercially related design field; or medicine or medical device technology;

  (B)  As a teacher; or

  (C)  As a healthcare applicant. See Rhode Island General Laws 42-64.26-3

• Eligible graduate: means an individual who meets the eligibility requirements under this chapter. See Rhode Island General Laws 42-64.26-3
• Taxpayer: means an applicant who receives a tax credit under this chapter. See Rhode Island General Laws 42-64.26-3