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.
State:
Rhode Island
Reporting Jurisdiction:
Rhode Island
Jurisdiction type
:
State
:
Fiscal year ending In:
2020
Program name:
Tax Increment Financing (TIF)
Program purpose:
Economic development; Business attraction/retention
:
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:
$624,000
:
Reimbursement / offset:
$0
:
Net revenue loss:
$624,000
:
Type of loss:
Active
:
Additional notes on dislosure:
(none)
