The sunset for a number of programs involving tax credits and other incentives has been extended by six months.
Under former law, the sunset was December 31, 2020. Under the new law, it is June 30, 2021. The programs whose sunsets have been extended to June 30, 2021, include the following:
The “Rhode Island Qualified Jobs Incentive Act of 2015” program, under Rhode Island General Laws Chapter 44-48.3. Under the new law, no credits shall be authorized to be reserved under the program after June 30, 2021.
The “Rebuild Rhode Island Tax Credit” program, under Rhode Island General Laws Chapter 42-64.20. Under the new law, no credits shall be authorized to be reserved under the program after June 30, 2021.
The “Rhode Island Tax Increment Financing” program, under Rhode Island General Laws Chapter 42-64.21. Under the new law, the Rhode Island Commerce Corporation shall enter into no agreement under the program after June 30, 2021.
The “Stay Invested in RI Wavemaker Fellowship” program, under Rhode Island General Laws Chapter 42-64.26. Under the new law, no incentives or credits shall be authorized under this program after June 30, 2021.
