§ 44-33.2-1. Declaration of purpose. The general assembly finds and declares that Rhode Island’s historic structures have experienced high vacancy rates and physical deterioration. Without adding economic incentive, these structures are not viable for the redevelopment and reuse by modern commercial, residential or manufacturing enterprises and will continue their physical deterioration. The redevelopment and reuse […]
§ 44-33.2-2. Definitions. As used in this chapter: (1) “Certified historic structure” means a property which is located in the state of Rhode Island and is: (i) Listed individually on the National Register of Historic Places; or (ii) Listed individually in the state register of historic places; or (iii) Located in a registered historic district […]
§ 44-33.2-3. Tax credit. (a) Any person, firm, partnership, trust, estate, limited liability company, corporation (whether for profit or non-profit) or other business entity that incurs qualified rehabilitation expenditures for the substantial rehabilitation of a property officially recorded as having applied to be certified as a certified historic structure by the Rhode Island historical preservation […]
§ 44-33.2-4. Administration. (a) To claim the tax credit authorized in this chapter, taxpayers shall apply: (i) to the commission prior to the certified historic structure being placed in service for a certification that the certified historic structure’s rehabilitation will be consistent with the standards of the Secretary of the United States Department of the […]
§ 44-33.2-4.1. Historic preservation tax credit trust fund. All processing fees collected pursuant to this chapter after June 30, 2008 shall be deposited in a historic preservation tax credit restricted receipt account within the historic preservation tax credit trust fund, which shall be used, to the extent resources are available, to refund or reimburse historic […]
§ 44-33.2-5. Information requests. The tax administrator and his or her agents, for the purpose of ascertaining the correctness of any credit claimed under the provisions of this chapter, may examine any books, paper, records, or memoranda bearing upon the matters required to be included in the return, report, or other statement, and may require […]
§ 44-33.2-6. Election. Taxpayers who elect and qualify to claim tax credits for the substantial rehabilitation of a certified historic structure pursuant to this chapter are ineligible for any tax credits that may also be available to the taxpayer for the substantial rehabilitation of that particular certified historic structure under the provisions of chapters 33.1 […]
