Terms Used In Rhode Island General Laws > Chapter 42-64.9 - Mill Building and 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.
• Appraisal: A determination of property value.
• Certifiable building: means a mill complex or a building:

  (i)  That was constructed prior to January 1, 1950;

  (ii)  Having at least two (2) floors, excluding a basement;

  (iii)  Which is or will be used primarily for manufacturing, wholesale trade and other commercial purposes;

  (iv)  The use of which conforms to the comprehensive plan and local land use management ordinances of the municipality in which the building is located;

  (v)  That is proposed for substantial rehabilitation;

  (vi)  That has been at a minimum seventy-five percent (75%) vacant for a minimum of twenty-four (24) months at the time of submission by the municipality;

  (vii)  That is designated by the municipality for consideration as a certifiable building as hereinafter provided;

  (viii)  Meets other requirements as established by the council; and

  (ix)  Designated by the enterprise zone council as a certified building pursuant to the requirements of Rhode Island General Laws 42-64.9-4

• Certified building: means a building with respect to which the council has issued a written notice of final designation as a certified building pursuant to the provisions of Rhode Island General Laws 42-64.9-4
• Certified building owner: means an individual, partnership, corporation, limited liability company or other entity which is listed in the appropriate municipal records of land evidence as the owner of a certified building, and may include one or more successors in title to the owner of the building at the time the building received written notice of final designation as a certified building pursuant to Rhode Island General Laws 42-64.9-4
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• council: means the enterprise zone council established pursuant to Rhode Island General Laws 42-64.9-4
• Eligible business: means any business, corporation, sole proprietorship, partnership, limited partnership or limited liability company or other entity which:

  (i)  Is located in a certified building after the building has undergone substantial rehabilitation as hereinafter defined;

  (ii)  Is engaged principally in manufacturing, wholesale trade, or other commercial business activities;

  (iii)  Whose total Rhode Island salaries and wages exceed the total Rhode Island salaries and wages paid to its employees in the prior calendar year;

  (iv)  Has received certification from the enterprise zone council pursuant to the rules and regulations promulgated by the council; and

  (v)  Which, as part of its annual certification:

  (A)  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;

  (B)  Provides the enterprise zone council 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 or location solely for the purpose of gaining favorable treatment under the provision of this chapter; and

  (C)  Meets certain other requirements set forth by the council. See Rhode Island General Laws 42-64.9-4

• Enterprise zone: means an enterprise zone established pursuant to Rhode Island General Laws 42-64.9-4
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Mill complex: means two (2) or more mill buildings, located on the same or contiguous parcels of land, each of which, at one time, had the same owner(s). See Rhode Island General Laws 42-64.9-4
• Municipality: means any city or town within the state, whether now existing or hereafter created. See Rhode Island General Laws 42-64.9-4
• 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.
• Qualified employee: means a full-time employee of an eligible business whose business activity originates and terminates from within the eligible business and certified building on a daily basis, and who is employed by the eligible business at the end of the calendar year, and who is a domiciled resident of the state of Rhode Island. See Rhode Island General Laws 42-64.9-4
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rehabilitation and reconstruction costs: means and includes only those amounts incurred and paid by the certified building owner, after issuance of the notice of final designation of the building, solely and exclusively for the rehabilitation of the certified building and which are incurred and paid by the certified building owner to acquire tangible personal property and structural components of the certified building which:

  (i)  Are depreciated pursuant to Rhode Island General Laws 42-64.9-4

• Salaries and wages: means salaries, wages, tips and other compensation as defined in the Internal Revenue Code of 1986, Rhode Island General Laws 42-64.9-4
• Substantial rehabilitation: means rehabilitation or reconstruction costs of a certified building in a dollar amount that equals or exceeds twenty percent (20%) of the market value of the certified building prior to rehabilitation or reconstruction, as said prior market value is determined by a Rhode Island licensed and certified appraiser who is independent of the certified building owner or owners and their affiliated corporations, and/or any tenants of the certified building and their affiliated corporations. See Rhode Island General Laws 42-64.9-4
• 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