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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 In2022
Program nameTax Increment Financing (TIF)
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 taxesBusiness 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: $866,000
Reimbursement / offset: $0
Net revenue loss: $866,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://controller.admin.ri.gov/sites/g/files/xkgbur621/files/2023-01/AC...