(a)  To qualify for a voucher or for a matching fund award under this chapter, a business must make application to the commerce corporation, and upon selection, shall enter into an agreement with the commerce corporation. The commerce corporation shall have no obligation to issue any voucher, make any award, or grant any benefits under this chapter.

Terms Used In Rhode Island General Laws 42-64.28-5

  • Commerce corporation: means the Rhode Island commerce corporation established pursuant to § 42-64-1 et seq. See Rhode Island General Laws 42-64.28-2
  • 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.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.

(b)  In a given tax year, a business shall not receive a voucher or matching-fund award provided for under this chapter in conjunction with the tax credit provided for in § 44-32-3.

History of Section.
P.L. 2015, ch. 141, art. 19, § 11; P.L. 2017, ch. 302, art. 2, § 1.