Rhode Island General Laws 42-64.30-4. Establishment of anchor institution tax credit
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The tax credit program is hereby established as a program under the jurisdiction of the commerce corporation and shall be administered by the commerce corporation. The purposes of the program are to encourage economic development and job creation in connection with the relocation of qualified businesses to the state of Rhode Island by providing an incentive to existing Rhode Island businesses to encourage a qualified business to relocate to Rhode Island. To implement these purposes, the program may provide tax credits to eligible businesses for a period of five (5) years.
History of Section.
P.L. 2015, ch. 141, art. 19, § 13.
Terms Used In Rhode Island General Laws 42-64.30-4
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.