Terms Used In Rhode Island General Laws > Chapter 42-64.3 - Distressed Areas Economic Revitalization Act

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• business facility: means any business corporation, sole proprietorship, partnership, or limited partnership or limited liability company which:

  (A)  After the date of its original application for membership in the enterprise zone program or the date annual membership is renewed creates and hires a minimum of five percent (5%) new or additional enterprise jobs or in the case of a company having twenty (20) employees or less, this requirement shall be that the company create and hire one new or additional enterprise job, in the respective zone during the same certification year; and

  (B)  Whose total Rhode Island wages including those Rhode Island wages for additional enterprise jobs, exceeds the total Rhode Island wages paid to its employees in the prior calendar year; and

  (C)  Obtains certificates of good standing from the Rhode Island division of taxation, the corporations division of the Rhode Island secretary of state and the appropriate municipal authority at the time of certification; and

  (D)  Provides the council with an affidavit stating under oath that the entity seeking certification as a qualified business has not within the preceding twelve (12) months from the date of application for certification changed its legal status for the purpose of gaining favorable treatment under the provisions of chapter 64. See Rhode Island General Laws 42-64.3-3

• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Effective date of certification: means the date upon which the qualified business meets the tests imposed in subdivisions (4)(i)(A) through (F) above and applies to the calendar year for which these tests were performed. See Rhode Island General Laws 42-64.3-3
• Enterprise job employees: means those full-time employees whose business activity originates and terminates from within the enterprise zone business and facility on a daily basis, and who are domiciled residents of the state (or who, in the case of employees of a high performance manufacturer as that term is defined in §?44-31-1(b)(3)(i), pay personal income taxes to the state) and hired (or transferred, in the case of existing out-of-state employees) and employed by the qualified business in the enterprise zone after the effective date of certification or annual recertification in excess of those full-time employees employed by the qualified business in any Rhode Island enterprise zone in the prior calendar year. See Rhode Island General Laws 42-64.3-3
• enterprise zone council: means the governmental agency created pursuant to §?42-64. See Rhode Island General Laws 42-64.3-3
• 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.
• Governing authority: means the governing body of a state, city or town within which a qualified United States bureau of the census division or delineation lies. See Rhode Island General Laws 42-64.3-3
• 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.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Personal property: All property that is not real property.
• town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• town council: include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8
• Wages: means wages, tips and other compensation as defined in the Internal Revenue Code of 1986, Rhode Island General Laws 42-64.3-3
• zone: means an economically distressed United States bureau of the census division or delineation in need of expansion of business and industry, and the creation of jobs, which is designated to be eligible for the benefits of this chapter. See Rhode Island General Laws 42-64.3-3