Section 42-64.3-1. – Short title.

§ 42-64.3-1. Short title. This chapter shall be known as the “Distressed Areas Economic Revitalization Act”. History of Section.P.L. 1982, ch. 396, § 1.

Section 42-64.3-10. – Additional rules and regulations.

§ 42-64.3-10. Additional rules and regulations. The state tax administrator shall promulgate appropriate rules or regulations to insure the proper administration of the taxation provisions of this chapter. The council shall promulgate appropriate rules or regulations to certify qualified businesses and to determine that a business is entitled to carry forward tax credits as provided […]

Section 42-64.3-10.1. – Qualified business facilities in two enterprise zones.

§ 42-64.3-10.1. Qualified business facilities in two enterprise zones. Notwithstanding the provisions of this chapter, when a qualified business has separate manufacturing facilities in two separate enterprise zones, the qualified business will continue to maintain its qualified status with respect to the enterprise zones if the net addition of new employees of both sites combined […]

Section 42-64.3-11. – Penalty for failure to comply.

§ 42-64.3-11. Penalty for failure to comply. Any qualified business, officer or employee of a qualified business who willfully fails to comply with the provisions of this chapter or otherwise submits false or misleading information is guilty of a misdemeanor. Upon conviction, the qualified business, officer or employee of a qualified business shall be fined […]

Section 42-64.3-12. – Applicability to federal enterprise zones and communities.

§ 42-64.3-12. Applicability to federal enterprise zones and communities. Consistent with the provisions of this chapter, any company whose state-based operations are within the boundaries of a federal enterprise zone or enterprise community shall be deemed eligible to qualify for the benefits afforded by this chapter; provided, however, that the benefits shall be applicable only […]

Section 42-64.3-13. – Severability.

§ 42-64.3-13. Severability. If the provisions of this chapter or the application of this chapter to any person or circumstances is held invalid, the invalidity shall not affect other provisions or applications of the chapter, which can be given effect without the invalid provision or application, and to this end the provisions of the chapter […]

Section 42-64.3-2. – Legislative findings.

§ 42-64.3-2. Legislative findings. The general assembly finds and declares: (1) That there are certain distressed areas in this state which are characterized by substantial and persistent levels of unemployment; blighted areas; obsolete, dilapidated, and abandoned industrial and commercial structures; and, as a consequence, continually shrinking tax bases which threaten their very existence; (2) That […]

Section 42-64.3-3. – Definitions.

§ 42-64.3-3. Definitions. As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) “Council” or “enterprise zone council” means the governmental agency created pursuant to § 42-64.3-3.1. (2) “Enterprise zone,” “economic revitalization zone,” or “zone” means an economically […]

Section 42-64.3-3.1. – Enterprise zone council.

§ 42-64.3-3.1. Enterprise zone council. (a) There is created within the Rhode Island commerce corporation the “enterprise zone council,” which shall consist of five (5) members to be appointed by the governor; one member shall be the chief executive officer of the Rhode Island commerce corporation; one member shall represent the urban league of Rhode […]

Section 42-64.3-4. – Designation of enterprise zones.

§ 42-64.3-4. Designation of enterprise zones. (a) The council may designate qualified United States Bureau of the Census divisions or delineations as enterprise zones upon receiving notice from the appropriate governing authority that the governing authority agrees to: (1) Devise and implement a program of police protection within the enterprise zone; (2) Give priority to […]

Section 42-64.3-5. – Criteria for enterprise zone designation.

§ 42-64.3-5. Criteria for enterprise zone designation. (a) The zone shall consist of not more than five (5) contiguous United States census tracts or portions thereof as set forth in the most recent federal census, except that the council may add Block 101 of Census Tract 135 in the City of Cranston to any enterprise […]

Section 42-64.3-5.1. – Coordination with existing programs.

§ 42-64.3-5.1. Coordination with existing programs. To the maximum extent possible, the directors of the departments of administration, business regulation, labor and training, environmental management, workforce 2000, human services, transportation, and the Rhode Island housing and mortgage finance corporation will provide special assistance to the zones. This will include, but not be limited to: (1) […]

Section 42-64.3-6. – Business tax credits.

§ 42-64.3-6. Business tax credits. A qualified business in an enterprise zone is allowed a credit against the tax imposed pursuant to chapters 11, 13 (except the taxation of tangible personal property under § 44-13-13), 14, 17, and 30 of title 44: (1) A credit equal to fifty percent (50%) of the total amount of […]

Section 42-64.3-6.1. – Impact analysis and periodic reporting.

§ 42-64.3-6.1. Impact analysis and periodic reporting. (a) The council shall not certify any applicant as a qualified business under subsection 42-64.3-3(4) of this chapter until it has first prepared and publicly released an analysis of the impact the proposed investment will or may have on the state. The analysis shall be supported by appropriate […]

Section 42-64.3-7. – Resident business owner tax modification.

§ 42-64.3-7. Resident business owner tax modification. (a) In computing his or her annual tax liability pursuant to the provisions of chapter 11 or 30 of title 44, a domiciliary of an enterprise zone who owns and operates a qualified business facility in that zone and which business is not required to file under chapter […]

Section 42-64.3-7.1. – Repealed.

§ 42-64.3-7.1. Repealed.

Section 42-64.3-8. – Repealed.

§ 42-64.3-8. Repealed.

Section 42-64.3-8.1. – Repealed.

§ 42-64.3-8.1. Repealed.

Section 42-64.3-8.2. – Promotion of the zone.

§ 42-64.3-8.2. Promotion of the zone. The Rhode Island economic development corporation shall promote the existence of the zone(s) and the tax incentives contained in this chapter. History of Section.P.L. 1991, ch. 340, § 2.

Section 42-64.3-9. – Standards for business property tax adjustment.

§ 42-64.3-9. Standards for business property tax adjustment. Notwithstanding the provisions of chapters 3 — 9 of title 44, real and tangible property taxes in enterprise zones for qualified businesses may be exempted or stabilized upon authorization of the city or town council. Nothing in this section shall be deemed to permit the exemption or […]