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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateRhode Island
Effected JurisdictionRhode Island
Jurisdiction type: State
Fiscal year ending In2021
Program nameRebuild Rhode Island Tax Credit
Program purpose: Business attraction/retention/expansion
Statutory authority: Rebuild Rhode Island Tax Credit Act (RIGL 42-64.20)
Abating jurisdiction(s): State of Rhode Island
Applicable taxesBusiness Corporation Tax; Public Service Corporation Tax; Financial Institutions Tax; Insurance Companies Tax; Personal Income Tax ; Sales and Use Tax
Method of abatement: Tax Credit
Provisions for recapture: Projects may be required to repay Tax Credits in the event the project achieves outsize financial returns.
Gross revenue loss: $8,714,000
Reimbursement / offset: $0
Net revenue loss: $8,714,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://treasury.ri.gov/financial-reports