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§42-64.11-3  Certification. –


Published: 2015

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TITLE 42

State Affairs and Government

CHAPTER 42-64.11

Jobs Growth Act

SECTION 42-64.11-3



   § 42-64.11-3  Certification. –

(a) An eligible company may submit an initial application for certification

with the Rhode Island economic development corporation. The application shall

specify the name of the eligible company, its affiliated entities, and its base

employment.



   (b) To qualify as a provisionally-certified company for a

calendar-year, an eligible company shall file with the Rhode Island economic

development corporation by the January 31 immediately following such

calendar-year an updated application listing, the following for the test period

ending within the calendar-year:



   (1) The eligible company and its affiliated entities;



   (2) Their average annual current employment;



   (3) The number of eligible employees and the aggregate

compensation paid thereto; and



   (4) Such other information as the Rhode Island economic

development corporation determines is reasonably necessary.



   (c) To qualify as a fully-certified company for a

calendar-year, an eligible company that was a provisionally-certified company

for both of the two (2) preceding calendar-years shall file with the Rhode

Island economic development corporation by the January 31 immediately following

such calendar-year an updated application listing for the test period ending

within the calendar-year:



   (1) The eligible company and its affiliated entities;



   (2) Their average annual current employment;



   (3) The number of eligible employees and the aggregate

compensation paid thereto; and



   (4) Such other information as the Rhode Island economic

development corporation determines is reasonably necessary.



   Once an eligible company has become a fully-certified

company, that qualification shall continue indefinitely and the certification

requirements of subsection (e) shall not apply.



   (d) For each affiliated entity not included in the list of

affiliated entities for the last prior updated application (or, if none, the

initial application), the updated application shall also indicate the base

employment of such affiliated entity.



   (e) Within thirty (30) days after receiving an updated

application, the Rhode Island economic development corporation shall verify the

information submitted with the department of labor and training and/or the

division of taxation and shall declare the eligible company to be a

provisionally certified company or a fully-certified company, as the case may

be, if the updated application demonstrates:



   (1) That an eligible company and its affiliated entities have

established for the test period new employment equal to not less than one

hundred (100) full-time active employees and not less than ten million dollars

($10,000,000) in new employment payroll; and



   (2) That the annual compensation for eligible employees is

not less than one hundred twenty-five percent (125%) of the average

compensation of all employees in the state. A declaration that an eligible

company is a provisionally certified company or a fully-certified company shall

be valid even if made outside the thirty (30) day period.



   (f) A certified company may abandon its certification by

filing written notice of its intent to abandon with the Rhode Island economic

development corporation and the division of taxation at least thirty (30) days

before the end of its credit year, and such abandonment shall become effective

for taxable years beginning after the end of the credit year for the certified

company and all of its affiliated entities.



   (g) An eligible company that has previously filed an initial

application may file a new initial application. In such event, the prior

application should be of no further effect and the calendar year under which

the new application is filed shall not be a credit year.



   (h) Notwithstanding subsection 42-64.11-6(d), the economic

development corporation shall annually provide an economic impact analysis,

consistent with the requirements of subsection 42-64-10(a)(2), on each

provisionally-certified company and fully-certified company. Such analysis

shall also include the name of the eligible company and its affiliated

entities, their average annual current employment, and the number of eligible

employees. This analysis shall be submitted to the chair of the house finance

committee, the chair of the senate finance committee, the house fiscal advisor,

and the senate fiscal advisor on or before the January 31st following the first

certification of an eligible company and shall be made available to the public.

Such annual reports shall continue indefinitely and be submitted on or before

January 31st, so long as the certified company has not abandoned its

certification. As a condition of continued certification each provisionally

certified company and fully-certified company shall provide to the economic

development corporation information the corporation deems necessary to complete

this analysis.



History of Section.

(P.L. 2005, ch. 53, § 1; P.L. 2005, ch. 54, § 1.)