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.
| State: | Rhode Island |
| Effected Jurisdiction: | Rhode Island |
Jurisdiction type: | State |
| Fiscal year ending In: | 2022 |
| Program name: | Tax Increment Financing (TIF) PILOT |
| Program purpose: | Business attraction/retention/expansion |
| Statutory authority: | Rhode Island Tax Increment Financing Act of 2015 (RIGL 42-64.21) |
| Abating jurisdiction(s): | State of Rhode Island |
| Applicable taxes: | Business Corporation Tax; Public Service Corporation Tax; Financial Institutions Tax; Insurance Companies Tax; Personal Income Tax ; Sales and Use Tax; Hotel Tax |
| Method of abatement: | Tax Rebate |
| Provisions for recapture: | Tax credits may be denied or revoked if applicant's certification or information is found to be willfully false; if the applicant or successor is convicted of bribery, fraud, theft, embezzlement, misappropriation, and/ or extortion involving the State, any State agency or political subdivision of the State |
| Gross revenue loss: | $1,201,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $1,201,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://controller.admin.ri.gov/sites/g/files/xkgbur621/files/2023-01/AC... |
