Thus, for the first three tax credit programs listed below, the Commerce Corporation is posting the substantive regulation; the Division of Taxation is, in effect, posting a one-page notice (in the form of a regulation) that simply refers to the Commerce Corporation regulation.
The regulations are being jointly promulgated by the Commerce Corporation and the Division of Taxation. The Division will hold a public hearing on the regulatory actions listed below at 1:30 p.m. on October 3, 2018, at the Division of Taxation, One Capitol Hill, Providence.
Wavemaker credit
The Division proposes to delete its regulation involving tax credits under the “Wavemaker Fellowship” program and use the Commerce Corporation’s regulation instead. Meanwhile, the Commerce Corporation is proposing to amend its regulation to include technical corrections that are intended to clarify the process to be followed by both the Commerce Corporation and the Division of Taxation as it relates to the issuance and use of the Wavemaker credits.
To view the Division’s notice of proposed rulemaking, click here.
To view the regulation that the Division of Taxation proposes to delete, along with the one-page referral notice (in the form of a regulation), click here.
To view the Commerce Corporation’s proposed regulation, click here.
Qualified Jobs Incentive Act
The Division proposes to delete its regulation involving tax credits under the “Qualified Jobs Incentive Act” program and use the Commerce Corporation’s regulation instead. Meanwhile, the Commerce Corporation’s regulation includes information on how the Division may provide for a process for the redemption of tax credits.
To view the Division’s notice of proposed rulemaking, click here.
To view the regulation that the Division of Taxation proposes to delete, along with the one-page referral notice (in the form of a regulation), click here.
To view the Commerce Corporation’s proposed regulation, click here.
Rebuild Rhode Island credit
The Division proposes to delete its regulation involving tax credits under the “Rebuild Rhode Island” tax credit program and use the Commerce Corporation’s regulation instead. Meanwhile, the Commerce Corporation’s proposed regulation includes information on when tax credit certificates can be issued.
To view the Division’s notice of proposed rulemaking, click here.
To view the regulation that the Division of Taxation proposes to delete, along with the one-page referral notice (in the form of a regulation), click here.
To view the Commerce Corporation's proposed regulation, click here.
Anchor Institution credit
By statute, the “Anchor Institution” tax credit program will no longer be available to applicants as of January 1, 2019. Therefore, the Division proposes to repeal its “Anchor Institution” regulation effective January 1, 2019.
To view the Division’s notice of proposed rulemaking, click here.
To view the regulation that the Division of Taxation proposes to delete, click here.
This post includes only a summary of regulatory actions. Please read each regulation for details.
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