summary
Introduced
03/30/2017
03/30/2017
In Committee
03/30/2017
03/30/2017
Crossed Over
Passed
Dead
12/01/2017
12/01/2017
Introduced Session
2017 Regular Session
Bill Summary
Increases the total aggregate amount of tax credits for a business entity not to exceed $5,000,000 in fiscal year 2018.
AI Summary
This bill increases the total aggregate amount of tax credits for a business entity to $5,000,000 in fiscal year 2018, with a 15% increase in subsequent years if the demand for the tax credits exceeds the approved contributions by 10%. The bill also clarifies the definition of an "eligible business entity" as one whose application would be approved without exceeding the credit limit. The bill aims to support the tax credit program for contributions to qualified scholarship organizations in Rhode Island.
Committee Categories
Budget and Finance
Sponsors (5)
Michael Chippendale (R)*,
Antonio Giarrusso (R)*,
Raymond Hull (D)*,
Robert Lancia (R)*,
Patricia Morgan (R)*,
Last Action
Committee recommended measure be held for further study (on 05/23/2017)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | http://webserver.rilin.state.ri.us/BillText17/HouseText17/H6031.pdf |
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