Rhode Island General Laws 42-55-24.1. Allocation of tax credits
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The corporation shall be the sole and exclusive agent for the allocation of all federal tax credits for low-income housing under 26 U.S.C. § 42. The corporation shall have all of the powers necessary to effectuate those allocations, including without limitation, the power to adopt rules, regulations, and policies regarding those allocations.
History of Section.
P.L. 1987, ch. 287, § 1.
Terms Used In Rhode Island General Laws 42-55-24.1
- 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.