§ 42-142-5 Annual unified economicdevelopment budget report. – (a) The director of the department of revenue shall, not later than October 15of each state fiscal year, compile and publish, in printed and electronic form,including on the Internet, an annual unified economic development budget reportwhich shall provide the following comprehensive information regarding the costsand benefits of all tax credits or other tax benefits conferred pursuant to§§ 42-64-10, 44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and44-31.2-6.1 during the preceding fiscal year:
(1) The name of each recipient of any such tax credit orother tax benefit; the dollar amount of each such tax credit or other taxbenefit; and summaries of the number of full-time and part-time jobs created orretained, employee benefits provided and the degree to which job creation andretention, wage and benefit goals and requirements of recipient and relatedcorporations, if any, have been met. The report shall include aggregate dollaramounts for each category of tax credit or other tax benefit and for eachgeographical area within the state; the number of recipients within eachcategory of tax credit or other tax benefit; the number of full-time andpart-time jobs created or retained, the employee benefits provided; and thedegree to which job creation and retention, wage and benefit rate goals andrequirements have been met within each category of tax credit or other taxbenefit; and
(2) The dollar amounts of all such tax credits and other taxbenefits by each approving authority pursuant to §§ 42-64-10,44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and 44-31.2-6.1, together with thecost to the state and to the approving agency; the value of the tax credit orother tax benefits to each recipient thereof; and summaries of the number offull-time and part-time jobs created or retained, employee benefits provided,and the degree to which job creation and retention, wage and benefit rate goalsand requirements of the recipients and related corporations, if any, have beenmet.
(b) The director of the department of revenue shall provideto the general assembly, as part of the annual budget request of the governor,and shall make available to the public via the Internet, a comprehensivepresentation of the costs of all such tax credits and other tax benefits to thestate during the preceding fiscal year, an estimate of the anticipated costs ofsuch tax credits and other tax incentives for the then-current fiscal year, andan estimate of the costs of all such tax credits or other tax benefits for thefiscal year of the requested budget, including, but not limited to:
(1) The total cost to the state of tax expenditures resultingfrom such tax credits and other tax benefits, the costs for each category oftax credits and other tax benefits, and the amounts of tax credits and othertax benefits by geographical area;
(2) The extent to which any employees of and recipients ofany such tax credits or other tax benefits has received RIte Care or RIte Sharebenefits or assistance and the impact that any such benefits or assistance mayhave on the state budget; and
(3) The cost to the state of all appropriated expendituresfor such tax credits and other tax benefits, including line-item budgets forevery state-funded entity concerned with economic development, including, butnot limited to, the department of labor and training, the department ofeducation, the economic development corporation, the commissioner of highereducation, and the research and business assistance programs of publicinstitutions of higher education.
(c) Forthwith upon passage of this act, the director of thedepartment of revenue shall undertake to develop a method and a procedure forthe collection and analysis of comprehensive information on the basis of whichthe costs and the fiscal and social efficacies associated with those taxcredits and other tax benefits conferred pursuant to §§ 44-31-1,44-31-1.1, 44-31-2, 44-32-2, 44-32-3, 44-42-2 and 44-55-4 may be evaluated andweighed by the executive and legislative branches of state government. On orbefore December 31, 2008, the director shall report to the governor and to thechairpersons of the house and senate committees on finance upon his or hercompliance with this subsection and set forth his conclusions andrecommendations with respect thereto.
§ 42-142-5 Annual unified economicdevelopment budget report. – (a) The director of the department of revenue shall, not later than October 15of each state fiscal year, compile and publish, in printed and electronic form,including on the Internet, an annual unified economic development budget reportwhich shall provide the following comprehensive information regarding the costsand benefits of all tax credits or other tax benefits conferred pursuant to§§ 42-64-10, 44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and44-31.2-6.1 during the preceding fiscal year:
(1) The name of each recipient of any such tax credit orother tax benefit; the dollar amount of each such tax credit or other taxbenefit; and summaries of the number of full-time and part-time jobs created orretained, employee benefits provided and the degree to which job creation andretention, wage and benefit goals and requirements of recipient and relatedcorporations, if any, have been met. The report shall include aggregate dollaramounts for each category of tax credit or other tax benefit and for eachgeographical area within the state; the number of recipients within eachcategory of tax credit or other tax benefit; the number of full-time andpart-time jobs created or retained, the employee benefits provided; and thedegree to which job creation and retention, wage and benefit rate goals andrequirements have been met within each category of tax credit or other taxbenefit; and
(2) The dollar amounts of all such tax credits and other taxbenefits by each approving authority pursuant to §§ 42-64-10,44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and 44-31.2-6.1, together with thecost to the state and to the approving agency; the value of the tax credit orother tax benefits to each recipient thereof; and summaries of the number offull-time and part-time jobs created or retained, employee benefits provided,and the degree to which job creation and retention, wage and benefit rate goalsand requirements of the recipients and related corporations, if any, have beenmet.
(b) The director of the department of revenue shall provideto the general assembly, as part of the annual budget request of the governor,and shall make available to the public via the Internet, a comprehensivepresentation of the costs of all such tax credits and other tax benefits to thestate during the preceding fiscal year, an estimate of the anticipated costs ofsuch tax credits and other tax incentives for the then-current fiscal year, andan estimate of the costs of all such tax credits or other tax benefits for thefiscal year of the requested budget, including, but not limited to:
(1) The total cost to the state of tax expenditures resultingfrom such tax credits and other tax benefits, the costs for each category oftax credits and other tax benefits, and the amounts of tax credits and othertax benefits by geographical area;
(2) The extent to which any employees of and recipients ofany such tax credits or other tax benefits has received RIte Care or RIte Sharebenefits or assistance and the impact that any such benefits or assistance mayhave on the state budget; and
(3) The cost to the state of all appropriated expendituresfor such tax credits and other tax benefits, including line-item budgets forevery state-funded entity concerned with economic development, including, butnot limited to, the department of labor and training, the department ofeducation, the economic development corporation, the commissioner of highereducation, and the research and business assistance programs of publicinstitutions of higher education.
(c) Forthwith upon passage of this act, the director of thedepartment of revenue shall undertake to develop a method and a procedure forthe collection and analysis of comprehensive information on the basis of whichthe costs and the fiscal and social efficacies associated with those taxcredits and other tax benefits conferred pursuant to §§ 44-31-1,44-31-1.1, 44-31-2, 44-32-2, 44-32-3, 44-42-2 and 44-55-4 may be evaluated andweighed by the executive and legislative branches of state government. On orbefore December 31, 2008, the director shall report to the governor and to thechairpersons of the house and senate committees on finance upon his or hercompliance with this subsection and set forth his conclusions andrecommendations with respect thereto.
§ 42-142-5 Annual unified economicdevelopment budget report. – (a) The director of the department of revenue shall, not later than October 15of each state fiscal year, compile and publish, in printed and electronic form,including on the Internet, an annual unified economic development budget reportwhich shall provide the following comprehensive information regarding the costsand benefits of all tax credits or other tax benefits conferred pursuant to§§ 42-64-10, 44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and44-31.2-6.1 during the preceding fiscal year:
(1) The name of each recipient of any such tax credit orother tax benefit; the dollar amount of each such tax credit or other taxbenefit; and summaries of the number of full-time and part-time jobs created orretained, employee benefits provided and the degree to which job creation andretention, wage and benefit goals and requirements of recipient and relatedcorporations, if any, have been met. The report shall include aggregate dollaramounts for each category of tax credit or other tax benefit and for eachgeographical area within the state; the number of recipients within eachcategory of tax credit or other tax benefit; the number of full-time andpart-time jobs created or retained, the employee benefits provided; and thedegree to which job creation and retention, wage and benefit rate goals andrequirements have been met within each category of tax credit or other taxbenefit; and
(2) The dollar amounts of all such tax credits and other taxbenefits by each approving authority pursuant to §§ 42-64-10,44-63-3, 42-64.5-5, 42-64.3-6.1, 42-64.9-6.2 and 44-31.2-6.1, together with thecost to the state and to the approving agency; the value of the tax credit orother tax benefits to each recipient thereof; and summaries of the number offull-time and part-time jobs created or retained, employee benefits provided,and the degree to which job creation and retention, wage and benefit rate goalsand requirements of the recipients and related corporations, if any, have beenmet.
(b) The director of the department of revenue shall provideto the general assembly, as part of the annual budget request of the governor,and shall make available to the public via the Internet, a comprehensivepresentation of the costs of all such tax credits and other tax benefits to thestate during the preceding fiscal year, an estimate of the anticipated costs ofsuch tax credits and other tax incentives for the then-current fiscal year, andan estimate of the costs of all such tax credits or other tax benefits for thefiscal year of the requested budget, including, but not limited to:
(1) The total cost to the state of tax expenditures resultingfrom such tax credits and other tax benefits, the costs for each category oftax credits and other tax benefits, and the amounts of tax credits and othertax benefits by geographical area;
(2) The extent to which any employees of and recipients ofany such tax credits or other tax benefits has received RIte Care or RIte Sharebenefits or assistance and the impact that any such benefits or assistance mayhave on the state budget; and
(3) The cost to the state of all appropriated expendituresfor such tax credits and other tax benefits, including line-item budgets forevery state-funded entity concerned with economic development, including, butnot limited to, the department of labor and training, the department ofeducation, the economic development corporation, the commissioner of highereducation, and the research and business assistance programs of publicinstitutions of higher education.
(c) Forthwith upon passage of this act, the director of thedepartment of revenue shall undertake to develop a method and a procedure forthe collection and analysis of comprehensive information on the basis of whichthe costs and the fiscal and social efficacies associated with those taxcredits and other tax benefits conferred pursuant to §§ 44-31-1,44-31-1.1, 44-31-2, 44-32-2, 44-32-3, 44-42-2 and 44-55-4 may be evaluated andweighed by the executive and legislative branches of state government. On orbefore December 31, 2008, the director shall report to the governor and to thechairpersons of the house and senate committees on finance upon his or hercompliance with this subsection and set forth his conclusions andrecommendations with respect thereto.
