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)