870 R.I. Code R. 870-RICR-30-00-4.11

Current through December 3, 2024

Section 870-RICR-30-00-4.11 - Review Process

A. Each Application shall be reviewed to confirm compliance with the Act and these Rules, and the Corporation may reject any incomplete or deficient Application.

B. The Corporation may require the submission of additional information in connection with any Application or the revision of an Application, and may permit the resubmission of an Application rejected as being incomplete or deficient.

C. After submission of a complete Application and review by the Corporation in accordance with the Act and these Rules, the Corporation will determine whether to recommend to the Board that it approve a Tax Credit for the Applicant and the amount of the Tax Credit. Factors considered in formulation of the recommendation may include:

1. the number of New Full-Time Jobs created;

2. the compensation for the New Full-Time Jobs created including benefits;

3. the length of the Commitment Period;

4. whether the New Full-Time Jobs are created in a Targeted Industry;

5. whether the New Full-Time Jobs are created in a Hope Community;

6. the amount of any Capital Investment made in connection with the creation of the New Full-Time Jobs;

7. the strategic importance of the Applicant's business; and

8. the economic return to the State.

D. If the Corporation determines that it will not recommend a complete Application to the Board for approval of an incentive, it shall notify the Applicant in writing of such decision.

E. The Corporation may set periodic Application deadlines that will be published on the Corporation's web site from time to time.

870 R.I. Code R. 870-RICR-30-00-4.11

Amended effective 12/19/2018