Terms Used In Rhode Island General Laws > Chapter 5-38.2 - Providence - Motor Vehicle Repair Businesses

• Adaptive reuse: means the conversion of an existing structure from the use for which it was constructed to a new use by maintaining elements of the structure and adapting such elements to a new use. See Rhode Island General Laws 42-64.20-3
• Adaptive reuse: means the conversion of an existing structure from the use for which it was constructed to a new use by maintaining elements of the structure and adapting such elements to a new use. See Rhode Island General Laws 42-64.22-2
• Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
• Affiliate: means an entity that directly or indirectly controls, is under common control with, or is controlled by the business. See Rhode Island General Laws 42-64.20-3
• Affiliate: means an entity that directly or indirectly controls, is under common control with, or is controlled by the business. See Rhode Island General Laws 42-64.22-2
• Affordable housing: means housing for sale or rent with combined rental costs or combined mortgage loan debt service, property taxes, and required insurance that do not exceed thirty percent (30%) of the gross annual income of a household earning up to eighty percent (80%) of the area median income, as defined annually by the United States Department of Housing and Urban Development. See Rhode Island General Laws 42-64.20-3
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Applicant: means a developer applying for a rebuild Rhode Island tax credit under this chapter. See Rhode Island General Laws 42-64.20-3
• Applicant: means a developer proposing to enter into a tax increment financing agreement under this chapter. See Rhode Island General Laws 42-64.21-3
• Applicant: means a qualifying community or hope community applying for incentives under this chapter. See Rhode Island General Laws 42-64.22-2
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Business: means a corporation as defined in §?44-11-1(4), or a partnership, an S corporation, a nonprofit corporation, a sole proprietorship, or a limited-liability corporation. See Rhode Island General Laws 42-64.20-3
• Business: means a corporation as defined in §?44-11-1(4), or a partnership, an S corporation, a nonprofit corporation, a sole proprietorship, or a limited liability corporation. See Rhode Island General Laws 42-64.22-2
• Certified historic structure: means a property located in the state of Rhode Island and is

  (i)  Listed individually on the national register of historic places; or

  (ii)  Listed individually in the state register of historic places; or

  (iii)  Located in a registered historic district and certified by either the Rhode Island historical preservation and heritage commission created pursuant to §?42-45-2 or the Secretary of the Interior as being of historic significance to the district. See Rhode Island General Laws 42-64.20-3

• Certified historic structure: means a property which is located in the state of Rhode Island and is

  (i)  Listed individually on the national register of historic places; or

  (ii)  Listed individually in the state register of historic places; or

  (iii)  Located in a registered historic district and certified by either the commission or Secretary of the Interior as being of historic significance to the district. See Rhode Island General Laws 42-64.22-2

• Commerce corporation: means the Rhode Island commerce corporation established pursuant to §?42-64-1 et seq. See Rhode Island General Laws 42-64.20-3
• Commerce corporation: means the Rhode Island commerce corporation established pursuant to § 42-64-1 et seq. See Rhode Island General Laws 42-64.21-3
• Commerce corporation: means the Rhode Island commerce corporation established pursuant to §?42-64-1 et seq. See Rhode Island General Laws 42-64.22-2
• Commercial: shall mean non-residential development. See Rhode Island General Laws 42-64.20-3
• Commercial: means non-residential development. See Rhode Island General Laws 42-64.22-2
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Developer: means a person, firm, business, partnership, association, political subdivision, or other entity that proposes to divide, divides, or causes to be divided real property into a subdivision or proposes to build or builds a building or buildings or otherwise improves land or existing structures, which division, building, or improvement qualifies for benefits under this chapter. See Rhode Island General Laws 42-64.20-3
• Developer: means a person, firm, corporation, partnership, association, political subdivision, or other entity that proposes to divide, divides, or causes to be divided real property into a subdivision or proposes to build, or builds a building or buildings or otherwise improves land or existing structures, which division, building, or improvement qualifies for benefits under this chapter. See Rhode Island General Laws 42-64.21-3
• Developer: means a person, firm, corporation, partnership, association, political subdivision, or other entity that proposes to divide, divides, or causes to be divided real property into a subdivision or proposes to build, or builds a building or buildings or otherwise improves land or existing structures, which division, building, or improvement qualifies for benefits under this chapter. See Rhode Island General Laws 42-64.22-2
• Development: means the improvement of land through the carrying out of building, engineering, or other operations in, on, over, or under land, or the making of any material change in the use of any buildings or land for the purposes of accommodating land uses. See Rhode Island General Laws 42-64.20-3
• Development: means the improvement of land through the carrying out of building, engineering, or other operations in, on, over, or under land, or the making of any material change in the use of any buildings or land for the purposes of accommodating land uses. See Rhode Island General Laws 42-64.22-2
• Devise: To gift property by will.
• Eligibility period: means the period in which a developer may claim a tax credit under this act, beginning with the tax period in which the commerce corporation accepts certification from the developer that it has met the requirements of the act and extending thereafter for a term of five (5) years. See Rhode Island General Laws 42-64.20-3
• Eligibility period: means the period in which a qualified community and/or Hope Community may apply for reimbursement under this chapter. See Rhode Island General Laws 42-64.22-2
• Eligible revenue: means the incremental revenues set forth in § 42-64. See Rhode Island General Laws 42-64.21-3
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Forgone tax revenue: means the amount of revenue that a municipality would have received from a qualified development project had a tax stabilization agreement not been in place, less the amount of revenue the municipality would be expected to receive from that qualified development project with a tax stabilization agreement in place. See Rhode Island General Laws 42-64.22-2
• Fraud: Intentional deception resulting in injury to another.
• Full-time employee: means a person who is employed by a business for consideration for a minimum of at least thirty-five (35) hours per week, or who renders any other standard of service generally accepted by custom or practice as full-time employment, or who is employed by a professional employer organization pursuant to an employee leasing agreement between the business and the professional employer organization for a minimum of thirty-five (35) hours per week, or who renders any other standard of service generally accepted by custom or practice as full-time employment, and whose wages are subject to withholding. See Rhode Island General Laws 42-64.20-3
• Hope community: means a municipality for which the five-year (5) average percentage of families with income below the federal poverty level exceeds the state five-year (5) average percentage, both as most recently reported by the U. See Rhode Island General Laws 42-64.20-3
• Hope Community: means a municipality for which the five-year (5) average percentage of families with income below the federal poverty level exceeds the state five-year (5) average percentage, both most recently reported by the U. See Rhode Island General Laws 42-64.21-3
• Hope community: means a municipality for which the five (5) year average percentage of families with income below the federal poverty level exceeds the state five (5) year average percentage, both as most recently reported by the U. See Rhode Island General Laws 42-64.22-2
• in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
• Incremental: means (i) net new revenue to the State of Rhode Island as defined by the commerce corporation, in consultation with the department of revenue as established in chapter 142 of Title 42, or (ii) existing revenue at substantial risk of loss to the State of Rhode Island as defined by the commerce corporation in consultation with the department of revenue. See Rhode Island General Laws 42-64.21-3
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lien: A claim against real or personal property in satisfaction of a debt.
• Manufacturer: shall mean any entity that:

  (i)  Uses any premises within the state primarily for the purpose of transforming raw materials into a finished product for trade through any or all of the following operations: adapting, altering, finishing, making, processing, refining, metalworking, and ornamenting, but shall not include fabricating processes incidental to warehousing or distribution of raw materials, such as alteration of stock for the convenience of a customer; or

  (ii)  Is described in codes 31-33 of the North American Industry Classification System, as revised from time to time. See Rhode Island General Laws 42-64.20-3

• Mixed use: means a development comprising both commercial and residential components. See Rhode Island General Laws 42-64.20-3
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
• motor vehicle repair business: means any place, establishment, garage, outdoor work area, or work area enclosed within a building where repairs are made or caused to be made to motor vehicles, including engines, carburetors, brakes, transmissions, muffler systems, electrical systems, and general running gear of motor vehicles including auto body repairs; and including any used automobile dealership, but excluding any new automobile dealership. See Rhode Island General Laws 5-38.2-3
• 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.
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: means an entity classified as a partnership for federal income tax purposes. See Rhode Island General Laws 42-64.20-3
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
• Personal property: All property that is not real property.
• Placed in service: means the earlier of (i) Substantial construction or rehabilitation work has been completed that would allow for occupancy of an entire structure or some identifiable portion of a structure, as established in the application approved by the commerce corporation board or (ii) Receipt by the developer of a certificate, permit, or other authorization allowing for occupancy of the project or some identifiable portion of the project by the municipal authority having jurisdiction. See Rhode Island General Laws 42-64.20-3
• Project: means qualified development project as defined under subsection (23). See Rhode Island General Laws 42-64.20-3
• Project: means qualified development project as defined under subsection (20). See Rhode Island General Laws 42-64.22-2
• Project cost: means the costs incurred in connection with the qualified development project or qualified residential or mixed use project by the applicant until the issuance of a permanent certificate of occupancy, or until such other time specified by the commerce corporation, for a specific investment or improvement, as defined through rules and regulations promulgated by the commerce corporation. See Rhode Island General Laws 42-64.20-3
• Project financing gap: means :

  (i)  The part of the total project cost that remains to be financed after all other sources of capital have been accounted for (the sources will include, but not be limited to, developer-contributed capital), which shall be defined through rules and regulations promulgated by the commerce corporation; or

  (ii)  The amount of funds that the state may invest in a project to gain a competitive advantage over a viable and comparable location in another state by means described in this chapter. See Rhode Island General Laws 42-64.20-3

• Project financing gap: means :

  (i)  The part of the total project cost that remains to be financed after all other sources of capital have been accounted for, including, but not limited to, developer-contributed capital, which shall be defined through rules and regulations promulgated by the commerce corporation; or

  (ii)  The amount of funds that the state may invest in a project to gain a competitive advantage over a viable and comparable location in another state by means described in this chapter. See Rhode Island General Laws 42-64.21-3

• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Qualified development project: means a specific construction project or improvement, including lands, buildings, improvements, real and personal property or any interest therein, including lands under water, riparian rights, space rights and air rights, acquired, owned, leased, developed or redeveloped, constructed, reconstructed, rehabilitated or improved, undertaken by a developer, owner or tenant, or both, within a specific geographic area, meeting the requirements of this chapter, as set forth in an application made to the commerce corporation. See Rhode Island General Laws 42-64.20-3
• Qualified development project: means a specific construction project or improvement, including lands, buildings, improvements, real and personal property or any interest therein, including lands under water, riparian rights, space rights and air rights, acquired, owned, leased, developed or redeveloped, constructed, reconstructed, rehabilitated or improved, undertaken by a developer, owner or tenant, or both, within a specific geographic area, meeting the requirements of this chapter, as set forth in an application made to the commerce corporation. See Rhode Island General Laws 42-64.21-3
• Qualified development project: includes :

  (i)  Rehabilitation of an existing structure where the total cost of development budget exceeds fifty percent (50%) of adjusted basis in such a qualifying property as of the date that the parties applied for said qualifying tax stabilization agreement; or

  (ii)  Construction of a new building wherein:

  (A)  The subject community has issued a tax stabilization agreement, as set forth herein and pursuant to §?44-3-9 as well as other applicable rules, regulations and, procedures;

  (B)  Construction commences within twelve (12) months of the subject tax stabilization agreement being approved; and

  (C)  Completion of the proposed development project occurs within thirty six (36) months, subject to the approval of qualifying or hope communities. See Rhode Island General Laws 42-64.22-2

• Qualifying property: means any building or structure used or intended to be used essentially for offices or commercial enterprises or residential purposes. See Rhode Island General Laws 42-64.22-2
• real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recognized historical structure: means a property located in the state of Rhode Island and commonly considered to be of historic or cultural significance as determined by the commerce corporation in consultation with the state historic preservation officer. See Rhode Island General Laws 42-64.20-3
• Recognized historical structure: means a property which is located in the state of Rhode Island and is commonly considered to be of historic or cultural significance as determined by the commerce corporation in consultation with the state historic preservation officer. See Rhode Island General Laws 42-64.22-2
• Residential: means a development of residential dwelling units. See Rhode Island General Laws 42-64.20-3
• Revenue increment base: means the amounts of all eligible revenues from sources within the qualifying TIF area in the calendar year preceding the year in which the TIF agreement is executed, as certified by the division of taxation. See Rhode Island General Laws 42-64.21-3
• Statute: A law passed by a legislature.
• Targeted industry: means any advanced, promising, or otherwise prioritized industry identified in the economic development vision and policy promulgated pursuant to §?42-64. See Rhode Island General Laws 42-64.20-3
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• TIF agreement: means an agreement between the commerce corporation and a developer, under which, in exchange for the benefits of the funding derived from qualification under this chapter, the developer agrees to perform any work or undertaking necessary for a qualified development project, including the clearance, development or redevelopment, construction, or rehabilitation of any structure or improvement of commercial, industrial, or residential property; public infrastructure; preexisting municipally-owned stadium of 10,000 seats or greater; or utilities within a qualifying TIF area. See Rhode Island General Laws 42-64.21-3
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transit oriented development area: means an area in proximity to transit infrastructure that will be further defined by regulation of the commerce corporation in consultation with the Rhode Island department of transportation. See Rhode Island General Laws 42-64.21-3
• Transit-oriented development area: means an area in proximity to transit infrastructure that will be further defined by regulation of the commerce corporation in consultation with the Rhode Island department of transportation. See Rhode Island General Laws 42-64.20-3
• United States: include the several states and the territories of the United States. See Rhode Island General Laws 43-3-8
• Venue: The geographical location in which a case is tried.
• Workforce housing: means housing for sale or rent with combined rental costs or combined mortgage loan debt service, property taxes, and required insurance that do not exceed thirty percent (30%) of the gross annual income of a household earning between eighty percent (80%) and one hundred and forty percent (140%) of the area median income, as defined annually by the United States Department of Housing and Urban Development. See Rhode Island General Laws 42-64.20-3
• Workforce housing: means housing for sale or rent with combined rental costs or combined mortgage loan debt service, property taxes, and required insurance that do not exceed thirty percent (30%) of the gross annual income of a household earning between eighty percent (80%) and one hundred and forty percent (140%) of the Providence-Fall River, RI-MA metropolitan area median income, as defined annually by the United States Department of Housing and Urban Development. See Rhode Island General Laws 42-64.22-2