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§42-64.23-2  Legislative Findings. –


Published: 2015

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TITLE 42

State Affairs and Government

CHAPTER 42-64.23

First Wave Closing Fund

SECTION 42-64.23-2



   § 42-64.23-2  Legislative findings. –

The general assembly finds and declares:



   (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 investments and foster job

creation in Rhode Island.



   (b) Through the establishment of a first wave closing fund,

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 governmental

services.



History of Section.

(P.L. 2015, ch. 141, art. 19, § 6.)