(a)  By September 1, 2016, and each year thereafter, the commerce corporation shall report the name, address, and amount of tax credit approved for each credit recipient during the previous state fiscal year to the governor, the speaker of the house of representatives, the president of the senate, the chairpersons of the house and senate finance committees, the house and senate fiscal advisors, and the department of revenue. Such report shall include any determination regarding the potential impact on an approved qualified relocation’s ability to stimulate business development; retain and attract new business and industry to the state; create good-paying jobs for its residents; assist with business, commercial, and industrial real estate development; and generate revenues for necessary state and local governmental services.

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Terms Used In Rhode Island General Laws 42-64.30-10

  • 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.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • 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 October 1, 2016, and each year thereafter, the commerce corporation shall report for the year previous the total number of agreements and associated amount of approved tax credits. This report shall be available to the public for inspection by any person and shall be published by the commerce corporation on its website and by the secretary of commerce on the executive office of commerce website.

(c)  [Deleted by P.L. 2023, ch. 294, § 5 and P.L. 2023, ch. 295, § 5.]

History of Section.
P.L. 2015, ch. 141, art. 19, § 13; P.L. 2023, ch. 294, § 5, effective June 22, 2023; P.L. 2023, ch. 295, § 5, effective June 22, 2023.