(a)  By September 1, 2016, and each year thereafter, the commerce corporation shall report the name, address, and incentive amount of each agreement entered into during the previous state fiscal year to the division of taxation.

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Terms Used In Rhode Island General Laws 42-64.21-8

  • Commerce corporation: means the Rhode Island commerce corporation established pursuant to § 42-64-1 et seq. See Rhode Island General Laws 42-64.21-3
  • 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.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10

(b)  By December 1, 2016, and each year thereafter, the commerce corporation shall provide the governor with the sum, if any, to be appropriated to fund the program. The governor shall submit to the general assembly printed copies of a budget including the total of the sums, if any, as part of the governor’s budget required to be appropriated for the program created under this chapter.

(c)  By January 1, 2017, and each year thereafter, the commerce corporation shall report to the governor, the speaker of the house, the president of the senate, the chairpersons of the house and senate finance committees, and the house and senate fiscal advisors the address and incentive amount of each agreement entered into during the previous state fiscal year as well as any determination regarding the measurable impact of each and every agreement on the retention and expansion of existing jobs, stimulation of the creation of new jobs, attraction of new business and industry to the state, and stimulation of growth in real estate developments and/or businesses that are prepared to make meaningful investment and foster job creation in the state.

History of Section.
P.L. 2015, ch. 141, art. 19, § 4; P.L. 2023, ch. 294, § 4, effective June 22, 2023; P.L. 2023, ch. 295, § 4, effective June 22, 2023.