State Affairs and Government
Rebuild Rhode Island Tax Credit
§ 42-64.20-2 Findings and declarations.
(a) It is hereby found and declared that due to long-term and short-term
stagnant or declining economic trends in Rhode Island, businesses in the state
have found it difficult to make investments that would stimulate economic
activity and create new jobs for the citizens of the state. Moreover, such
economic trends have caused business closures or out-of-state business
relocations, while other out-of-state businesses are deterred from relocating
to this state. This situation has contributed to a high rate of unemployment in
the state. Consequently, a need exists to promote the retention and expansion
of existing jobs, stimulate the creation of new jobs, attract new business and
industry to the state, and stimulate growth in real estate developments and/or
businesses that are prepared to make meaningful investment and foster job
creation in Rhode Island.
(b) Through the establishment of a rebuild Rhode Island tax
credit program, Rhode Island can take steps 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
History of Section.
(P.L. 2015, ch. 141, art. 19, § 3.)