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R.I. Gen. Laws § 45-33.2-18

Annual report

Known as the Municipal Tax Increment Financing Act

The act spans §§ 45–45 (30 sections).

P.L. 1984, ch. 78, § 1; P.L. 2004, ch. 275, § 1; P.L. 2004, ch. 390, § 1.

No later than September 1 of each year a project plan pursuant to this chapter is in effect in a city or town, the city or town shall make a report to the director of the department of economic development. The annual report shall review for the preceding fiscal year the activities financed by tax increment financing, the taxable valuation of the city or town, and for each tax increment area within the city or town, the taxable valuation of the property within the tax increment area, the amount of the tax increment, and the amount used or set aside for the purposes of the plan. The report shall also include the approximate number of new jobs created or preserved from the activities financed by tax incremental financing, construction and nonconstruction, the approximate amount of the wages for the jobs created, what types of fringe benefits, such as healthcare insurance or retirement benefits were made available to the new jobs created, the amount of new personal income taxes generated for the state of Rhode Island, a description of any plan or process intended to stimulate hiring in the municipality where the project is located, training of employees or potential employees and outreach to minority job applicants and minority businesses and any other relevant information requested by the director.

Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.