Section 42-64.14-1. – Short title.

§ 42-64.14-1. Short title. This chapter shall be known as, “The I-195 Redevelopment Act of 2011.” History of Section.P.L. 2011, ch. 245, § 3; P.L. 2011, ch. 267, § 3.

Section 42-64.14-10. – Life sciences tax rate reduction.

§ 42-64.14-10. Life sciences tax rate reduction. The rate of tax payable by an eligible life sciences company and each of its eligible subsidiaries for any taxable year beginning on or after January 1, 2011, on its net income pursuant to the provisions of subsection 44-11-2(a), shall be reduced by the amount specified in § […]

Section 42-64.14-11. – Reduction rate schedule.

§ 42-64.14-11. Reduction rate schedule. (a) The amount of the rate reduction specified in § 42-64.14-10 for any eligible life sciences company for each taxable year beginning on or after January 1, 2012, shall be based upon the aggregate amount of new employment of the eligible life sciences company and its eligible subsidiaries for each […]

Section 42-64.14-12. – Election.

§ 42-64.14-12. Election. (a) An eligible life sciences company may elect to determine its “base employment” for the purposes of this chapter on January 1 of any year subsequent to 2011, rather than on January 1, 2011. As a result of the election, rules comparable to those set forth elsewhere in this chapter shall be […]

Section 42-64.14-13. – Planning, permitting, appeals and development.

§ 42-64.14-13. Planning, permitting, appeals and development. (a) The commission shall exercise its powers in a manner consistent with development plans approved for the I-195 redevelopment district by the commission. Such plans may be prepared without limitation by the commission in order to achieve the purposes of this chapter. Development in the district, whether by […]

Section 42-64.14-14. – Payments.

§ 42-64.14-14. Payments. The commission shall make as a condition to the sale or lease of any parcel of I-195 surplus land, as defined in § 37-5-8, or any portion thereof, to any not-for-profit, organization or entity that is otherwise exempt from municipal real estate taxes including, without limitation, any independent public instrumentality, governmental or […]

Section 42-64.14-15. – Abutting properties.

§ 42-64.14-15. Abutting properties. When a development plan is proposed that includes properties from both the I-195 surplus land and abutting property, and there is actual or contemplated identical ownership of both the I-195 surplus land and the abutting property, then the abutting property shall be subject to all of the powers and authority of […]

Section 42-64.14-16. – Records; reports; inspection.

§ 42-64.14-16. Records; reports; inspection. The commission shall at all times keep full and accurate accounts of its receipts, expenditures, disbursements, assets, and liabilities, which shall be open to inspection by any officer or duly appointed agent of the state or the city. The commission shall report annually on: (1) Its finances; (2) On the […]

Section 42-64.14-17. – Termination or dissolution of district.

§ 42-64.14-17. Termination or dissolution of district. Upon termination or dissolution of the district, the title to all funds and other properties owned by it which remain after payment of all bonds and notes and other obligations and liabilities of the district shall vest in the corporation. History of Section.P.L. 2011, ch. 245, § 3; […]

Section 42-64.14-18. – Inconsistent laws or ordinance inoperative.

§ 42-64.14-18. Inconsistent laws or ordinance inoperative. Except as otherwise provided herein, any provisions of any special law and part of any special law and all ordinances and parts of ordinances pertaining to development within the district that are inconsistent with the provisions of this chapter shall be inoperative and cease to be effective. The […]

Section 42-64.14-19. – Pledge not to alter rights of district.

§ 42-64.14-19. Pledge not to alter rights of district. The state does hereby pledge to and agree with the holders of the bonds, notes, and other evidences of indebtedness of the commission that the state and the city will not limit or alter rights hereby vested in the commission, which affect the capacity or ability […]

Section 42-64.14-2. – Findings.

§ 42-64.14-2. Findings. (a) The relocation of interstate route 195 within the city of Providence has resulted in the creation of surplus parcels of land available for sale and commercial, institutional and residential development and beneficial reuse, including without limitation to support or encourage workforce development, education and training, and the growth of “knowledge based” […]

Section 42-64.14-20. – Construction.

§ 42-64.14-20. Construction. This chapter is deemed necessary for the welfare of the state and its inhabitants and shall be liberally construed so as to effectuate its purposes. Insofar as the provisions of this chapter are inconsistent with the provisions of any law or ordinance, general, special or local, the provision of this chapter shall […]

Section 42-64.14-21. – Sunset.

§ 42-64.14-21. Sunset. (a) The provisions of § 42-64.14-9, I-195 redevelopment district life sciences jobs incentives program shall sunset on December 31, 2021. If an eligible life sciences company that was established in the district and participated in the life sciences jobs incentive program on or before December 31, 2021, maintained the qualifications to be […]

Section 42-64.14-22. – Severability.

§ 42-64.14-22. Severability. If any clause, sentence, paragraph, section or part of this chapter shall be judged by any court or competent jurisdiction to be invalid, such judgment shall not affect, impair or invalidate the remainder thereof, but it shall be confined in its operation of the clause, sentence, paragraph, section or part directly involved […]

Section 42-64.14-3. – Purposes.

§ 42-64.14-3. Purposes. The purposes of this chapter are to: (a) Create a state-local-private sector partnership to plan, implement, administer, and oversee the redevelopment of the surplus I-195 properties; and (b) Authorize, provide for, and facilitate the consolidated exercise of development and redevelopment powers existing at the state and local levels. History of Section.P.L. 2011, […]

Section 42-64.14-4. – Definitions.

§ 42-64.14-4. Definitions. As used in this chapter, unless the context clearly indicates otherwise: (1) “Adjusted current employment” means, for any taxable year ending on or after January 1, 2012, the aggregate of the average daily number of full-time equivalent active employees employed within the state by an eligible company and its eligible subsidiaries during […]

Section 42-64.14-5. – The I-195 redevelopment district created.

§ 42-64.14-5. The I-195 redevelopment district created. (a) The I-195 redevelopment district is hereby constituted as an independent public instrumentality and body corporate and politic for the purposes set forth in this chapter with a separate legal existence from the city of Providence and from the state and the exercise by the commission of the […]

Section 42-64.14-6. – The I-195 redevelopment district commission.

§ 42-64.14-6. The I-195 redevelopment district commission. (a) The powers of the district to achieve the purposes of this chapter shall be exercised by a commission as herein provided: The I-195 redevelopment district commission shall consist of seven (7) voting members. The governor of the State of Rhode Island shall appoint, with the advice and […]

Section 42-64.14-7. – Powers and duties of the commission.

§ 42-64.14-7. Powers and duties of the commission. The commission shall have all the rights and powers reasonably necessary to carry out and effectuate this chapter, including, but not limited to, the rights and powers: (1) To sue and be sued, complain and defend, in its corporate name. (2) To have a seal that may […]