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.)