§ 42-64.11-3 Certification. – (a) An eligible company may submit an initial application for certificationwith the Rhode Island economic development corporation. The application shallspecify the name of the eligible company, its affiliated entities, and its baseemployment.
(b) To qualify as a provisionally-certified company for acalendar-year, an eligible company shall file with the Rhode Island economicdevelopment corporation by the January 31 immediately following suchcalendar-year an updated application listing, the following for the test periodending within the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
(c) To qualify as a fully-certified company for acalendar-year, an eligible company that was a provisionally-certified companyfor both of the two (2) preceding calendar-years shall file with the RhodeIsland economic development corporation by the January 31 immediately followingsuch calendar-year an updated application listing for the test period endingwithin the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
Once an eligible company has become a fully-certifiedcompany, that qualification shall continue indefinitely and the certificationrequirements of subsection (e) shall not apply.
(d) For each affiliated entity not included in the list ofaffiliated entities for the last prior updated application (or, if none, theinitial application), the updated application shall also indicate the baseemployment of such affiliated entity.
(e) Within thirty (30) days after receiving an updatedapplication, the Rhode Island economic development corporation shall verify theinformation submitted with the department of labor and training and/or thedivision of taxation and shall declare the eligible company to be aprovisionally certified company or a fully-certified company, as the case maybe, if the updated application demonstrates:
(1) That an eligible company and its affiliated entities haveestablished for the test period new employment equal to not less than onehundred (100) full-time active employees and not less than ten million dollars($10,000,000) in new employment payroll; and
(2) That the annual compensation for eligible employees isnot less than one hundred twenty-five percent (125%) of the averagecompensation of all employees in the state. A declaration that an eligiblecompany is a provisionally certified company or a fully-certified company shallbe valid even if made outside the thirty (30) day period.
(f) A certified company may abandon its certification byfiling written notice of its intent to abandon with the Rhode Island economicdevelopment corporation and the division of taxation at least thirty (30) daysbefore the end of its credit year, and such abandonment shall become effectivefor taxable years beginning after the end of the credit year for the certifiedcompany and all of its affiliated entities.
(g) An eligible company that has previously filed an initialapplication may file a new initial application. In such event, the priorapplication should be of no further effect and the calendar year under whichthe new application is filed shall not be a credit year.
(h) Notwithstanding subsection 42-64.11-6(d), the economicdevelopment corporation shall annually provide an economic impact analysis,consistent with the requirements of subsection 42-64-10(a)(2), on eachprovisionally-certified company and fully-certified company. Such analysisshall also include the name of the eligible company and its affiliatedentities, their average annual current employment, and the number of eligibleemployees. This analysis shall be submitted to the chair of the house financecommittee, the chair of the senate finance committee, the house fiscal advisor,and the senate fiscal advisor on or before the January 31st following the firstcertification of an eligible company and shall be made available to the public.Such annual reports shall continue indefinitely and be submitted on or beforeJanuary 31st, so long as the certified company has not abandoned itscertification. As a condition of continued certification each provisionallycertified company and fully-certified company shall provide to the economicdevelopment corporation information the corporation deems necessary to completethis analysis.
§ 42-64.11-3 Certification. – (a) An eligible company may submit an initial application for certificationwith the Rhode Island economic development corporation. The application shallspecify the name of the eligible company, its affiliated entities, and its baseemployment.
(b) To qualify as a provisionally-certified company for acalendar-year, an eligible company shall file with the Rhode Island economicdevelopment corporation by the January 31 immediately following suchcalendar-year an updated application listing, the following for the test periodending within the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
(c) To qualify as a fully-certified company for acalendar-year, an eligible company that was a provisionally-certified companyfor both of the two (2) preceding calendar-years shall file with the RhodeIsland economic development corporation by the January 31 immediately followingsuch calendar-year an updated application listing for the test period endingwithin the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
Once an eligible company has become a fully-certifiedcompany, that qualification shall continue indefinitely and the certificationrequirements of subsection (e) shall not apply.
(d) For each affiliated entity not included in the list ofaffiliated entities for the last prior updated application (or, if none, theinitial application), the updated application shall also indicate the baseemployment of such affiliated entity.
(e) Within thirty (30) days after receiving an updatedapplication, the Rhode Island economic development corporation shall verify theinformation submitted with the department of labor and training and/or thedivision of taxation and shall declare the eligible company to be aprovisionally certified company or a fully-certified company, as the case maybe, if the updated application demonstrates:
(1) That an eligible company and its affiliated entities haveestablished for the test period new employment equal to not less than onehundred (100) full-time active employees and not less than ten million dollars($10,000,000) in new employment payroll; and
(2) That the annual compensation for eligible employees isnot less than one hundred twenty-five percent (125%) of the averagecompensation of all employees in the state. A declaration that an eligiblecompany is a provisionally certified company or a fully-certified company shallbe valid even if made outside the thirty (30) day period.
(f) A certified company may abandon its certification byfiling written notice of its intent to abandon with the Rhode Island economicdevelopment corporation and the division of taxation at least thirty (30) daysbefore the end of its credit year, and such abandonment shall become effectivefor taxable years beginning after the end of the credit year for the certifiedcompany and all of its affiliated entities.
(g) An eligible company that has previously filed an initialapplication may file a new initial application. In such event, the priorapplication should be of no further effect and the calendar year under whichthe new application is filed shall not be a credit year.
(h) Notwithstanding subsection 42-64.11-6(d), the economicdevelopment corporation shall annually provide an economic impact analysis,consistent with the requirements of subsection 42-64-10(a)(2), on eachprovisionally-certified company and fully-certified company. Such analysisshall also include the name of the eligible company and its affiliatedentities, their average annual current employment, and the number of eligibleemployees. This analysis shall be submitted to the chair of the house financecommittee, the chair of the senate finance committee, the house fiscal advisor,and the senate fiscal advisor on or before the January 31st following the firstcertification of an eligible company and shall be made available to the public.Such annual reports shall continue indefinitely and be submitted on or beforeJanuary 31st, so long as the certified company has not abandoned itscertification. As a condition of continued certification each provisionallycertified company and fully-certified company shall provide to the economicdevelopment corporation information the corporation deems necessary to completethis analysis.
§ 42-64.11-3 Certification. – (a) An eligible company may submit an initial application for certificationwith the Rhode Island economic development corporation. The application shallspecify the name of the eligible company, its affiliated entities, and its baseemployment.
(b) To qualify as a provisionally-certified company for acalendar-year, an eligible company shall file with the Rhode Island economicdevelopment corporation by the January 31 immediately following suchcalendar-year an updated application listing, the following for the test periodending within the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
(c) To qualify as a fully-certified company for acalendar-year, an eligible company that was a provisionally-certified companyfor both of the two (2) preceding calendar-years shall file with the RhodeIsland economic development corporation by the January 31 immediately followingsuch calendar-year an updated application listing for the test period endingwithin the calendar-year:
(1) The eligible company and its affiliated entities;
(2) Their average annual current employment;
(3) The number of eligible employees and the aggregatecompensation paid thereto; and
(4) Such other information as the Rhode Island economicdevelopment corporation determines is reasonably necessary.
Once an eligible company has become a fully-certifiedcompany, that qualification shall continue indefinitely and the certificationrequirements of subsection (e) shall not apply.
(d) For each affiliated entity not included in the list ofaffiliated entities for the last prior updated application (or, if none, theinitial application), the updated application shall also indicate the baseemployment of such affiliated entity.
(e) Within thirty (30) days after receiving an updatedapplication, the Rhode Island economic development corporation shall verify theinformation submitted with the department of labor and training and/or thedivision of taxation and shall declare the eligible company to be aprovisionally certified company or a fully-certified company, as the case maybe, if the updated application demonstrates:
(1) That an eligible company and its affiliated entities haveestablished for the test period new employment equal to not less than onehundred (100) full-time active employees and not less than ten million dollars($10,000,000) in new employment payroll; and
(2) That the annual compensation for eligible employees isnot less than one hundred twenty-five percent (125%) of the averagecompensation of all employees in the state. A declaration that an eligiblecompany is a provisionally certified company or a fully-certified company shallbe valid even if made outside the thirty (30) day period.
(f) A certified company may abandon its certification byfiling written notice of its intent to abandon with the Rhode Island economicdevelopment corporation and the division of taxation at least thirty (30) daysbefore the end of its credit year, and such abandonment shall become effectivefor taxable years beginning after the end of the credit year for the certifiedcompany and all of its affiliated entities.
(g) An eligible company that has previously filed an initialapplication may file a new initial application. In such event, the priorapplication should be of no further effect and the calendar year under whichthe new application is filed shall not be a credit year.
(h) Notwithstanding subsection 42-64.11-6(d), the economicdevelopment corporation shall annually provide an economic impact analysis,consistent with the requirements of subsection 42-64-10(a)(2), on eachprovisionally-certified company and fully-certified company. Such analysisshall also include the name of the eligible company and its affiliatedentities, their average annual current employment, and the number of eligibleemployees. This analysis shall be submitted to the chair of the house financecommittee, the chair of the senate finance committee, the house fiscal advisor,and the senate fiscal advisor on or before the January 31st following the firstcertification of an eligible company and shall be made available to the public.Such annual reports shall continue indefinitely and be submitted on or beforeJanuary 31st, so long as the certified company has not abandoned itscertification. As a condition of continued certification each provisionallycertified company and fully-certified company shall provide to the economicdevelopment corporation information the corporation deems necessary to completethis analysis.
