Rules and Regulations for the Anchor Institution Tax Credit
280-RICR-20-20-7 INACTIVE RULE
| Title | 280 | Department of Revenue |
| Chapter | 20 | Division of Taxation |
| Subchapter | 20 | Tax Credits/Deductions |
| Part | 7 | Rules and Regulations for the Anchor Institution Tax Credit |
| Type of Filing | Direct Final Repeal |
| Regulation Status | Inactive |
| Effective | 12/31/2018 |
Regulation Authority:
R.I. Gen. Laws Sections 42-64.30-1 et seq.
Purpose and Reason:
The Rules implement the newly-enacted Anchor Institution Tax Credit, R.I. Gen. Laws § 42-64.30-1 et seq., which provides a tax credit to an anchor institution that plays a substantial role in getting a material supplier, service provider, or customer to relocate to the state. The relocating business must create a minimum number of jobs – 10 if it relocates before December 31, 2018; 25 if it relocates after. Upon the relocation and creation of the new jobs, the anchor company that solicited the relocation will be eligible to receive the credits.
Rulemaking Documents are organized by document type and are part of this rule’s rulemaking record (R.I. Gen. Laws § 42-35-2.3). If multiple documents of the same type are listed below, each is a unique document. If there are multiple Public Notice of Proposed Rulemaking documents, view each document to identify the most recently amended version, as it may be amended at any point during the Public Comment Period.