Section 870-RICR-30-00-4.6 - EligibilityA. The minimum number of New Full-Time Jobs required for an Applicant to be eligible for a Tax Credit under the Act shall be as follows:1. for a Business in a Targeted Industry that employs not more than one hundred (100) Full-Time Employees in the State on the date of Application, the creation of at least ten (10) New Full-Time Jobs;2. for a Business in a Targeted Industry that employs more than one hundred (100) Full-Time Employees in the State on the date of Application, the lesser of the creation of New Full-Time Jobs in this State in an amount not less than ten percent (10%) of the Business's existing number of Full-Time Employees in the State or the creation of at least one hundred (100) New Full-Time Jobs;3. for a Business that is not in a Targeted Industry that employs not more than two hundred (200) Full-Time Employees in this State on the date of Application to the Corporation, the creation of at least twenty (20) New Full-Time Jobs; or4. for a Business that is not in a Targeted Industry that employs more than two hundred (200) Full-Time Employees in this State on the date of Application, the lesser of the creation of New Full-Time Jobs in an amount not less than ten percent (10%) of the Business's existing number of Full-Time Employees in this State or the creation of at least one hundred (100) New Full-Time Jobs.B. An Applicant who closes or substantially reduces an operation at one location in the State and relocates substantially the same operation to another location in the State is not eligible for Tax Credits under the Act for the jobs relocated as a result of the relocation. This does not prohibit an Applicant from expanding its operations at another location in the State, provided that existing operations of a similar nature located within the State of the Applicant or a Related Company are not closed or substantially reduced within the one year preceding the date of the Application.C. An Applicant shall not be eligible for a Tax Credit if an actual or likely future federal procurement is a cause of substantially all of the hours to be worked by the New Full-Time Jobs identified in an Application, unless the Applicant can show that it could be reasonable and efficiently locate the New Full-Time Jobs outside of the State, that such location would be economically advantageous, and that such location would be consistent with the terms of the federal procurement. A likely future federal procurement includes, but is not limited to, a federal procurement that has been applied for or formally solicited, or an existing federal procurement for which there is a likelihood of renewal.870 R.I. Code R. 870-RICR-30-00-4.6
Amended effective 12/19/2018