Section 870-RICR-20-00-4.7 - EligibilityA. The following conditions must be met for an Applicant to be eligible for a Voucher under the Act: 1. the Applicant must be a Small Business;2. the Applicant must be registered to do business in the State;3. the Applicant must obtain a signed letter from a Knowledge Provider demonstrating that the Knowledge Provider is capable and willing to provide the services that will be supported by the Voucher unless the Applicant is seeking a Voucher for internal research and development as a Small Business Manufacturer; and4. the personnel at the Knowledge Provider who are to provide services to an Applicant must be independent from the Applicant and there must be no existing commitments between the Applicant and such personnel, other than commitments facilitated by a Voucher granted under the Act.B. An Applicant is eligible to be awarded no more than two vouchers within a 12-month period. Unused Vouchers not cancelled by the Applicant shall count for purposes of implementing this provision.C. A business shall not be entitled to claim a tax credit provided for in R.I. Gen. Laws § 44-32-3 in relation to a project for which the applicant has received a Voucher, except: 1. A Small Business Manufacturer may claim a tax credit for the cost of a research and development project. However, a Small Business Manufacturer may only claim a credit for the amount of research and development project costs that exceed the amount of the Voucher.870 R.I. Code R. 870-RICR-20-00-4.7
Amended effective 9/27/2023