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Rhode Island General Laws 42-64.20-1. Short title

     

This chapter shall be known and may be cited as the “Rebuild Rhode Island Tax Credit Act.”

History of Section.
P.L. 2015, ch. 141, art. 19, § 3.

Rhode Island General Laws 42-64-20.1. Procedure

     

(a)  A resolution by the board of directors of the corporation that adopts confirming use of the tax exemption for a project by the lessee as required in § 42-64-20(c) shall be deemed to have been approved by the general assembly when the general assembly passes a concurrent resolution of approval which the corporation requests that, the resolution adopting confirming use of the tax exemption for a project by the lessee, be approved by the general assembly. These requests shall be transmitted to the speaker of the house and the president of the senate with copies to the chairpersons of the respective finance committees, and fiscal advisors. The request for approval shall include:

(1)  A full description of the project to which the tax exemption is related;

(2)  The corporation’s findings required by § 42-62-10(1); and

(3)  The corporation’s analysis of impact required by § 42-64-10(2).

History of Section.
P.L. 2006, ch. 246, art. 30, § 18.

Terms Used In Rhode Island General Laws 42-64-20.1

  • Concurrent resolution: A legislative measure, designated "S. Con. Res." and numbered consecutively upon introduction, generally employed to address the sentiments of both chambers, to deal with issues or matters affecting both houses, such as a concurrent budget resolution, or to create a temporary joint committee. Concurrent resolutions are not submitted to the President/Governor and thus do not have the force of law.
  • 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.