Statutes, codes, and regulations
Rhode Island Administrative Code
Title 310 - Department of HousingChapter 10 - Tax CreditsSubchapter 10 - Low-Income Housing Tax Credits
Part 1 - Rules and Regulations for the Low-Income Housing Tax Credit Program
Section 310-RICR-10-10-1.15 - Redemption of Tax Credits

310 R.I. Code R. 310-RICR-10-10-1.15

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Current through November 7, 2024
Section 310-RICR-10-10-1.15 - Redemption of Tax Credits
A. Upon request of a taxpayer and subject to annual appropriation, the State, through its Division of Taxation, shall redeem any Tax Credit in whole or in part, for ninety percent (90%) of the value of the Tax Credit.
B. A taxpayer seeking redemption of a tax credit certificate shall file an application with the Division of Taxation on the form prescribed by the Division of Taxation together with the original tax credit certificate. The Division of Taxation will request funds from the Department bi-annually and will pay the redemption amount within thirty (30) days of the receipt of funds from the Department.

310 R.I. Code R. 310-RICR-10-10-1.15

Adopted effective 10/8/2024